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P66’s 1Q earnings crumble 61% on weaker margins

HOUSTON, April 29, 2016 (PCW) -– Phillips 66 on Friday reported first-quarter earnings of $385 million, down 61% from the $987 million seen during the same time frame a year ago.

The company attributed the sharp decline to weaker margins.

Segment earnings are as follows:

Chemicals

Refining

Midstream

--Samantha Hartke

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