Houston-based Phillips 66 said Aug. 17 it realigned joint venture midstream assets with Enbridge. Phillips 66 realigned economic and governance interests in DCP Midstream and Gray Oak pipeline through merger of existing JVs with Enbridge. Phillips 66’s economic interest in DCP increased to 43 percent from 28 percent, and it will oversee and manage the JV’s interest in DCP. Phillips 66’s economic interest in Gray Oak from west Texas to Texas coast decreased to 6.5 percent from 42 percent; Enbridge will oversee and manage the JV’s interest in Gray Oak.
