<SEC-DOCUMENT>0001534701-17-000006.txt : 20170118
<SEC-HEADER>0001534701-17-000006.hdr.sgml : 20170118
<ACCEPTANCE-DATETIME>20170118113925
ACCESSION NUMBER:		0001534701-17-000006
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170117
FILED AS OF DATE:		20170118
DATE AS OF CHANGE:		20170118

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Phillips 66
		CENTRAL INDEX KEY:			0001534701
		STANDARD INDUSTRIAL CLASSIFICATION:	PETROLEUM REFINING [2911]
		IRS NUMBER:				453779385
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2331 CITYWEST BLVD.
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77042
		BUSINESS PHONE:		281-293-6600

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 4428
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77210

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Loomis William R Jr
		CENTRAL INDEX KEY:			0001315638

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35349
		FILM NUMBER:		17532798

	MAIL ADDRESS:	
		STREET 1:		285 SAN YSIDRO ROAD
		CITY:			SANTA BARBARA
		STATE:			CA
		ZIP:			93108
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_148475755256726.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2017-01-17</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001534701</issuerCik>
        <issuerName>Phillips 66</issuerName>
        <issuerTradingSymbol>PSX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001315638</rptOwnerCik>
            <rptOwnerName>Loomis William R Jr</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2331 CITYWEST BLVD.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77042</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2017-01-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2392</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>83.6125</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>20038.003</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>12680</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>59902</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Loomis Family Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Annual grant to non-employee directors of restricted stock units that convert to Phillips 66 common stock on a 1-for-1 basis.  The restrictions on the RSUs lapse on the retirement, disability or death of the non-employee director.</footnote>
        <footnote id="F2">The price reflected above is the average of the high and the low price of the Company's stock on January 13, 2017.</footnote>
        <footnote id="F3">Includes shares acquired through routine dividend transactions that are exempt under Rule 16a-1.</footnote>
        <footnote id="F4">Reported amount represents shares held by the Loomis Family Trust for the benefit of various family members of Mr. Loomis and for which Mr. Loomis serves as trustee and has voting and investment power. Mr. Loomis disclaims beneficial ownership of all securities held by the trust and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for the purposes of Section 16 or for any other purpose.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Grant F. Adamson, by Power of Attorney filed May 10, 2012</signatureName>
        <signatureDate>2017-01-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
