October 16, 2024--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Phillips 66 (NYSE:PSX) (Houston, Texas) said it was one step closer to its goal of shedding more than US$3 billion in assets by unloading its stake in a Swiss fuels provider.

The company said that, pending approval from Swiss authorities, it would sell its 49% non-operated interest in Coop Mineraloel, a retail service provider, for US$1.24 billion.