• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Phillips 66 indicted for violating Clean Water Act

by November 21, 2024
written by November 21, 2024

(Reuters) – A grand jury has indicted Phillips 66 (NYSE:PSX) for illegally discharging hundreds of thousands of gallons of industrial wastewater into Los Angeles County’s sewer system, and failing to report the violations to authorities.

The indictment against the Houston-based energy company includes four counts of knowingly violating the federal Clean Water Act and two counts of negligently violating that law, U.S. Attorney Martin Estrada in Los Angeles said on Thursday.

Phillips 66 is expected to be arraigned in the coming weeks in Los Angeles federal court.

It faces a maximum sentence of five years probation on each count, and $2.4 million in fines.

Phillips 66 did not immediately respond to requests for comment.

According to Wednesday’s indictment, the discharges came from Phillips 66’s refinery in Carson, California.

In the first discharge, the refinery released 310,000 gallons of non-compliant wastewater, containing about 64,000 pounds of oil and grease, into Los Angeles’ sewers over 2-1/2 hours on Nov. 24, 2020.

The oil-and-grease concentration was as high as 24,700 milligrams per liter, far higher than the 75 milligrams per liter allowed under Phillips’ permit, the indictment said.

In the second discharge, the refinery released 480,000 gallons of wastewater containing at least 33,700 pounds of oil and grease, for a concentration of 12,900 milligrams per liter, over six hours on Feb. 8, 2021.

Estrada said Phillips 66 acknowledged the discharges only after being contacted by county regulators, and promised in writing after the first discharge to “retrain operations personnel” on how to manage and report discharges.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Citron Research discloses short position in bitcoin buyer MicroStrategy
next post
HSBC downgrades Bloom Energy on valuation

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Uber What is the risk to deportation from Trump’s immigration policy on rideshare and food delivery
    • SpaceX in discussions over share sale at $350 bln valuation- Bloomberg

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy