Changed Risks for PHILLIPS 66 (PSX)

Here are risks that changed year over year. risks from the recent filings of PHILLIPS 66. Our algorithms work hard to highlight risks unique to this company.

We do not insure against all potential losses, and, therefore, our business, financial condition, results of operations and cash flows could be adversely affected by unexpected liabilities and increased costs

Large capital projects can take many years to complete, and market conditions could deteriorate significantly between the project approval date and the project startup date, negatively impacting expected project returns

The adoption of climate change legislation or regulation could result in increased operating costs and reduced demand for the refined petroleum products we produce

Deterioration in our credit profile could increase our costs of borrowing money and limit our access to the capital markets and commercial credit, and could trigger co-venturer rights under joint venture arrangements

We may incur losses as a result of our forward contracts and derivative transactions

Plans we may have to expand existing assets or construct new assets, particularly in our Midstream segment, are subject to risks associated with societal and political pressures and other forms of opposition to the future development, transportation and use of carbon-based fuels Such risks could adversely impact our ability to realize certain growth strategies

There are certain hazards and risks inherent in our operations that could adversely affect those operations and our financial results

We are subject to interruptions of supply and increased costs as a result of our reliance on third-party transportation of crude oil, NGL and refined petroleum products

Our operations are subject to business interruptions and casualty losses Failure to manage risks associated with business interruptions could adversely impact our operations, financial condition, results of operations and cash flows