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Phillips 66 is a diversified energy company that covers refining, midstream logistics, chemicals, and marketing and specialties. It turns crude oil into refined fuels and petrochemicals; its midstream segment transports and stores crude and refined products; the marketing segment sells fuels through a network of branded outlets, and it also invests in renewable fuels. It differentiates itself as an integrated energy player with four main segments plus renewable investments, enabling coordinated sourcing, processing, and distribution along with a long history of safety and environmental stewardship. Its goal is to provide energy solutions and reliable fuels while pursuing efficiency, emissions reductions, and sustainable growth for future energy needs.
Industries
Industrial & Manufacturing
Energy
Company Size
10,001+
Company Stage
IPO
Headquarters
Houston, Texas
Founded
1917
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Total Funding
$3.8B
Above
Industry Average
Funded Over
2 Rounds
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Pension Plan
401(k) Company Match
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Dental Insurance
Vision Insurance
Life Insurance
Employee Assistance Program
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Sky Quarry restarts Nevada's only crude oil refinery - A major new chapter begins in this highly lucrative sector for N A S D A Q: SKYQ. Today's air-permit approval and immediate Eagle Springs restart mark a major operational milestone, while 5,000-barrel-per-day capacity, 15,000 barrels of crude inventory, Nevada oil-development plans and a tightening Western refining market put Sky Quarry $SKYQ firmly back in the spotlight WOODS CROSS, Utah - Sept. 25, 2026 - PRLog - Sky Quarry Inc. (N A S D A Q: SKYQ) delivered what may be its most important operational update of 2026 today, announcing that it has received an air permit from the Nevada Division of Environmental Protection and has restarted operations at its Eagle Springs Refinery near Ely, Nevada. The facility is operated through Sky Quarry's wholly owned subsidiary, Foreland Refining Corporation. For Sky Quarry, this is much more than another corporate announcement. The company has now moved through a significant period of refinery repairs, upgrades and permitting and is entering a new phase centered on operating the asset, ramping production and building a larger regional energy platform. And the market noticed. According to historical market data, SKYQ closed September 24 at $2.91, up 14.57% on approximately 28.2 million shares traded, after reaching an intraday high of $3.48. TODAY'S BIG NEWS: EAGLE SPRINGS IS BACK The headline development is straightforward: Sky Quarry has restarted Eagle Springs. Before the restart, Sky Quarry completed approximately $300,000 of repairs and upgrades identified through a TAR360 assessment commissioned in 2025. The refinery has a stated nameplate capacity of approximately 5,000 barrels of crude oil per day, and the company reported approximately 15,000 barrels of crude oil inventory already on hand, with additional supply expected as operations progress. That gives Sky Quarry something extremely important: an operating energy asset with the infrastructure already in place. Management's immediate objective is to ramp Eagle Springs toward its operating potential and increase the contribution of Nevada-refined products to the regional fuel supply. The refinery produces products including diesel, vacuum gas oil, naphtha and liquid paving asphalt. The distinction is important for investors: 5,000 barrels per day is nameplate capacity, not today's production rate. The company must still demonstrate a sustained ramp-up and consistent operations. But the transition has begun. A STRATEGIC ASSET IN AN INCREASINGLY IMPORTANT REGION Today's announcement arrives against a backdrop that could make existing Western refining infrastructure increasingly significant. A September 24 industry commentary highlighted the reduction of refining capacity on the West Coast, including the closure of Phillips 66's Los Angeles refinery and the wind-down of Valero's Benicia refinery. The same report noted that California has historically supplied a large portion of Nevada's motor fuel. That backdrop helps explain why Sky Quarry has repeatedly emphasized the strategic importance of Eagle Springs. The company has also participated in discussions with Nevada's Fuel Resiliency Committee, and today's announcement reiterates Sky Quarry's intention to remain engaged as Nevada evaluates fuel-supply and infrastructure initiatives. In other words, Sky Quarry is restarting its refinery at a time when regional fuel infrastructure and supply reliability are receiving heightened attention. Key elements of today's milestone include: * Nevada air permit secured * Eagle Springs refinery operations restarted * Approximately $300,000 in repairs and upgrades completed * Approximately 15,000 barrels of crude inventory on hand * 5,000 barrels-per-day stated nameplate capacity * Additional crude supply expected as operations progress THE NEXT PIECE OF THE STORY: NEVADA OIL Perhaps even more interesting is what Sky Quarry is trying to build around Eagle Springs. The company has been advancing a proposed $50 million Nevada oil exploration and production initiative intended to encourage additional regional crude development and potentially create a lower-cost source of feedstock for Foreland. Sky Quarry has also highlighted increasing oil-and-gas exploration activity in Nevada, including federal leasing and drilling-permit activity, as potentially supportive of future regional crude supply. The company points to a U.S. Geological Survey estimate of approximately 1.4 billion barrels of undiscovered, technically recoverable oil resources on federal lands in Nevada. That figure is not a Sky Quarry reserve or asset, but it illustrates the resource potential management believes could support a broader Nevada energy-development strategy. If additional suitable Nevada crude reaches the market, Eagle Springs could potentially process some of that production in-state. PR SPRING ADDS A SECOND LONG-TERM GROWTH ENGINE Sky Quarry's story doesn't end at the refinery. The company continues discussions surrounding a farm-in opportunity at PR Spring in Utah, along with potential collaboration involving its approximately 7-megawatt power-generation capacity. PR Spring also represents Sky Quarry's longer-term resource-recovery strategy. The company is developing the facility to recover hydrocarbons and other marketable materials from waste asphalt shingles and oil-bearing resources. That gives the company exposure to a broader combination of: Refining + Resource Development + Recycling + Energy Infrastructure. RECENT MANAGEMENT AND CORPORATE DEVELOPMENTS The operational restart follows several other important developments. In July, Sky Quarry appointed Ray Hansen as President of Foreland Refining Corporation. The company described Hansen as a refining-industry veteran with more than 35 years of refinery operations, engineering and leadership experience. In August, Sky Quarry also appointed Heidi C. Bowman as CFO, bringing more than 20 years of strategic finance experience, including experience in oil and gas and private equity. And on September 18, shareholders approved the company's proposed reverse-stock-split authorizations and the 2026 Omnibus Incentive Plan. The SEC filing reported that 4,481,963 shares were represented at the meeting against 8,808,017 shares outstanding as of the July 24 record date. These developments give Sky Quarry a strengthened management structure as the company moves from repair and preparation toward execution and operations. INVESTOR OUTLOOK: THE STORY HAS CHANGED The most important development today is that Sky Quarry is no longer simply talking about getting Eagle Springs ready. Eagle Springs has restarted. The next chapter is about ramping operations, securing feedstock, producing refined products, serving customers and demonstrating what the refinery can contribute financially. That creates a series of milestones for investors to watch: * Refinery ramp-up and sustained operations * Crude supply and feedstock availability * Utilization and refined-product sales * Progress on the $50 million Nevada oil initiative * PR Spring farm-in and development discussions * Potential expansion of Nevada crude production There are certainly risks, including the challenge of sustaining operations, obtaining crude at attractive economics, managing liquidity and proving actual throughput versus nameplate capacity. Sky Quarry itself highlights those risks in its SEC disclosures. But today's announcement represents a tangible operational milestone. Sky Quarry has secured the permit. The repairs are complete. The crude inventory is on site. The refinery has restarted. Now the company gets the opportunity to demonstrate what 5,000 barrels-per-day nameplate infrastructure in an increasingly supply-conscious Western market can become. For N A S D A Q: SKYQ, September 24, 2026 may ultimately be remembered as the day the Sky Quarry story moved decisively from preparation to production. And with the refinery now running, Nevada oil development advancing and additional PR Spring opportunities still on the table, the next phase of Sky Quarry's story is just beginning. For more information on SKYQ visit: https://skyquarry.com Media Contact Company Name: Sky Quarry Inc. (N A S D A Q: SKYQ) Contact Person: Marcus Laun, CEO Email: [email protected] or [email protected] Phone: (424) 394-1090 Country: United States DISCLAIMER: https://corporateads.com/disclaimer/ Disclosure listed on the CorporateAds website Contact CorporateAds ***@gmail.com Photos: https://www.prlog.org/13172893/1 https://www.prlog.org/13172893/2 https://www.prlog.org/13172893/3 https://www.prlog.org/13172893/4 End
Letter reveals LDEQ delayed enforcement and failed to require cleanup of industrial air pollution violations in Lake Charles. EIP and Micah 6:8 Mission analysis raises concerns about years of delays and inadequate corrective action. September 23, 2026 | Micah 6:8 Mission Micah 6:8 Mission and the Environmental Integrity Project (EIP) submitted a letter to Louisiana Department of Environmental Quality leadership raising concerns about delayed enforcement of industrial air pollution violations in the Lake Charles region. EIP analyzed state compliance and enforcement records for 23 petrochemical facilities between January 2021 and August 2026. The analysis found that LDEQ often took years to identify or address violations and did not consistently require companies to take specific steps to prevent those violations from happening again. Of the 28 formal enforcement actions reviewed, none required companies to investigate the root causes of violations, make specific equipment or operational changes, improve monitoring, develop corrective action plans, or independently verify a return to compliance. Instead, many actions primarily required companies to submit reports, information, test results, or descriptions of corrective actions. The review also found that approximately 60 percent of the formal enforcement cases involved initial violations that occurred more than five years before the enforcement action. Penalties had been collected in 10 of the 28 formal actions reviewed, with an average penalty of approximately $66,300 in those cases. The analysis found that LDEQ relied heavily on self-reported violations and often responded slowly to problems reported by industrial facilities. In one example, a compliance order involving Indorama Ventures addressed benzene-related reporting violations several years after the underlying events occurred. Another compliance order involving the Phillips 66 Lake Charles Refinery addressed repeated air pollution permit exceedances, including some violations that were five years old or more. These delays raise concerns about whether enforcement actions are protecting residents from continued or recurring exposure to health-damaging air pollutants. "Our communities are breathing the consequences of an enforcement system that responds too slowly and demands too little," said Cynthia Parker Robertson, Executive Director of Micah 6:8 Mission. "LDEQ must require industries to correct the causes of their violations and prove they are protecting the people who live downwind." Cynthia Robertson to discuss findings at Micah 6:8 Mission's 2026 Health & Environment Summit, "When Pollution Becomes Personal," on Saturday, September 26. The Summit will bring residents, health professionals, environmental experts, advocates, and community leaders together to discuss how pollution affects air, water, health, families, and everyday life in Southwest Louisiana. The Summit is free and open to the public. It will take place from 10:00 a.m. to 5:00 p.m. at the West Calcasieu Event Center, 401 Arena Road, Sulphur, Louisiana. Registration begins at 9:15 a.m., and lunch will be provided. The full letter is available through the Environmental Integrity Project and Micah 6:8 Mission press materials. About Micah 6:8 Mission Micah 6:8 Mission envisions a Southwest Louisiana where every community is informed, prepared, and empowered to thrive. The organization works to connect environmental stewardship, disaster resilience, public health, and social equity. About Environmental Integrity Project The Environmental Integrity Project is an environmental organization that uses legal and technical tools to hold polluters and governments accountable and protect public health and the environment.
BMO Capital Markets has raised its price target on Phillips 66 from $260 to $310, maintaining an 'Outperform' rating. The new target implies 13% upside and exceeds the stock's recent all-time high of $274. Phillips 66 has surged over 110% this year, driven by elevated global refining margins amid Middle East conflicts and reduced Russian refining capacity. The company reported second-quarter net income of $3.85 billion, up from $877 million year-over-year, its strongest quarterly profit since 2022. BMO highlighted Phillips 66's integrated business model and strong execution across its portfolio. The company reduced net debt by nearly 25% sequentially to $16.5 billion and approved a $10 billion share buyback programme expansion in July. However, analysts caution that extraordinary market conditions may already be priced in, leaving the stock vulnerable if refining margins normalise.
Oil prices above $100 per barrel are widening crack spreads, creating investment opportunities in refiners Phillips 66, Valero, and Marathon Petroleum. The companies delivered sharply higher second-quarter earnings, with refining strength driving profits significantly above year-ago levels. Phillips 66 reported earnings per share of $9.41 against a $7.50 consensus estimate, roughly four times its year-ago earnings. Revenue reached $52.04 billion versus the $43.60 billion expected. Analyst price targets for the three refiners trail current share prices, suggesting the market is pricing in margin strength faster than Wall Street models. Of 21 firms covering Phillips 66, 15 give it a buy rating against six holds. The consensus price target sits near $222, approximately 15% below recent trading levels.
President Donald Trump's nine largest oil and gas holdings gained between $1.5 million and $4.4 million in the first six months of the Iran war, according to a CNBC analysis of his financial disclosure and market data. The holdings include Chevron, ExxonMobil, and seven other energy companies. CNBC calculated gains using share-price movements from 27 February, the day before hostilities began, through 31 August. Trump's accounts showed at least 23 sell transactions across the nine stocks through 29 June. A White House spokesman said Trump plays no role in trading decisions, with all investments managed independently. Ethics watchdogs disputed this, noting Trump still knows his heavy energy investment positions. The nine firms posted combined second-quarter profits of $47.6 billion, triple the prior year's figure. US crude prices rose roughly 36% since the war started.
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Industries
Industrial & Manufacturing
Energy
Company Size
10,001+
Company Stage
IPO
Headquarters
Houston, Texas
Founded
1917
Find jobs on Simplify and start your career today