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Vol. 7, No. 17 Week of April 28, 2002
Providing coverage of Alaska and northern Canada's oil and gas industry


Phillips posts loss on refining; production slides, prices shrink

Company 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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