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  "documentTitle": "Phillips 66 (PSX)",
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  "presentationDate": "2025-04-28 00:00:00",
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  "notes": "Includes a bar chart of 5-year average net cash margins and a line chart of historical USWC PRISM NCM.",
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      "text": "Phillips 66's Wilmington refinery, which has been announced to be closed at YE 2025 is likely the least competitive refinery in the West Coast market",
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      "text": "Key Asset Overview: Phillips 66's Wilmington refinery... Ferndale: Simple, light sweet refinery...",
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      "text": "Source: Baker & O'Brien's PRISM forecast estimates for data. Elliott analysis for asset description.",
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      "text": "OPERATING REVIEW: WEST COAST",
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