Phillips posts loss on refining; production slides, prices shrinkCompany reports overall $25 million loss in first quarter — Phillips earned $162 million in fourth quarter, $516 million in first quarter last year Allen Baker PNA Contributing Writer
Phillips Petroleum Co. slipped to a loss in the first quarter as refining margins took a toll on profits. Other companies also lost money on refining, but most were able to stay profitable with upstream cash flows.
Not Phillips, which reported an overall loss of $25 million, compared with a profit....
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Steep drop in Alaska
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