Phillips 66, Kinder Morgan, HF Sinclair Approve $5B Pipeline Project

Phillips 66 (NYSE: PSX ) shares are trading higher by about 3% on Tuesday. The company, along with Kinder Morgan (NYSE: KMI ) and HF Sinclair (NYSE: DINO ), disclosed a final investment decision for Western Gateway. The pipeline is expected to improve fuel supply reliability and provide a more efficient transportation network for growing markets across the U.S. West. The project will also connect Phillips 66’s Central Corridor and Gulf Coast refining assets with its West Coast and Southwest marketing operations. Phillips 66 will hold a 49.9% stake, while Kinder Morgan and HF Sinclair will own 35.1% and 15%, respectively. Read Also: Phillips 66 Cashes in on Refining Boom Sparked by Middle East Supply Disruptions Western Gateway Project Western Gateway is a proposed 1,300-mile refined products pipeline with 230,000 barrels per day of capacity, connecting St. Louis and Gulf Coast supply...