On July 30, 2025, the Superior Court of the State of California, Alameda County, ordered Phillips 66 Company, a wholly owned subsidiary of the Company, to pay Propel Fuels Inc. $195 million in exemplary damages, plus pre- and post-judgment interest, the company said.

1. 01

   On July 30, 2025, the Superior Court of the State of California, Alameda County, ordered Phillips 66 Company, a wholly owned subsidiary of the Company, to pay Propel Fuels Inc. $195 million in exemplary damages, plus pre- and post-judgment interest, the company said.

2. 02

   The court ordered the company to pay $195 million after considering Propel Fuels' request for exemplary damages of $1.2 billion, the company said.

3. 03

   The company said these exemplary damages are in addition to $604.9 million in compensatory damages that was awarded as part of the jury's verdict on October 16, 2024.

4. 04

   Phillips 66 Company denies any wrongdoing and believes the jury verdict and award of exemplary damages are not legally or factually supported, the company said. It intends to pursue post-judgment remedies and to file an appeal, though there can be no assurances that such efforts will be successful.

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