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Successful transition to direct crude purchases can enhance profit margins, similar to past instances where refiners improved results through better sourcing, potentially leading to a rise in PSX's stock price.
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Phillips 66 (PSX) plans to directly purchase heavy crude from Venezuela's PDVSA starting in April, aiming to enhance profitability by avoiding intermediaries such as trading houses and Chevron. This new approach could significantly impact PSX's cost structure and operational efficiency, offering a potential competitive edge in refined products.
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