Phillips 66
“Can Phillips 66 leverage its integrated downstream and midstream scale to modernise its financial infrastructure — AR securitisation, supply-chain finance, treasury management — as a competitive differentiator in the energy transition?”
Phillips 66 was spun out of ConocoPhillips in 2012 as a pure downstream/midstream energy company. Over the following decade it expanded its financial infrastructure — adding treasury management via Kyriba, a large AR securitization program with PNC Bank, and a supply-chain finance early payment programme with MUFG. The 2024 Business Transformation initiative signals a move toward modernising payment terms and working capital infrastructure at enterprise scale, positioning the company's treasury and AP functions as strategic levers rather than back-office utilities.