<SEC-DOCUMENT>0001534701-23-000034.txt : 20230207
<SEC-HEADER>0001534701-23-000034.hdr.sgml : 20230207
<ACCEPTANCE-DATETIME>20230207185710
ACCESSION NUMBER:		0001534701-23-000034
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20230204
FILED AS OF DATE:		20230207
DATE AS OF CHANGE:		20230207

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Roberts Timothy D.
		CENTRAL INDEX KEY:			0001522542

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35349
		FILM NUMBER:		23596574

	MAIL ADDRESS:	
		STREET 1:		C/O PHILLIPS 66 PARTNERS LP
		STREET 2:		3010 BRIARPARK DRIVE
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77042

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:		832-765-3010

	MAIL ADDRESS:	
		STREET 1:		2331 CITYWEST BLVD.
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77042
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_167581421709312.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2023-02-04</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001522542</rptOwnerCik>
            <rptOwnerName>Roberts Timothy D.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2331 CITYWEST BLVD.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77042</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Executive Vice President</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2023-02-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3651</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>99.5596</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>44148</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Represents shares withheld to satisfy tax withholding obligations in connection with the vesting of Restricted Stock Units (RSUs) granted on February 4, 2020.</footnote>
        <footnote id="F2">The price reflected above is the average of the high and the low price of the Company's stock on February 3, 2023.</footnote>
        <footnote id="F3">Includes 22,712 RSUs that settle for shares of Phillips 66 common stock on a 1-for-1 basis on the third anniversary of the date of grant.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Jenarae N. Garland, Attorney-in-Fact</signatureName>
        <signatureDate>2023-02-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>tdrobertssubstitutepoa.htm
<DESCRIPTION>ROBERTS SUBSTITUTE POA
<TEXT>
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<pre>
SUBSTITUTE POWER OF ATTORNEY
Pursuant to the terms of a power of attorney, dated June 9, 2022, a copy of which was previously filed (the "Power of Attorney"), the undersigned, Julie P. Pradel, was appointed a true and lawful attorney-in-fact for Timothy D. Roberts (the "Filer"), with full power of substitution, to:
(1) prepare, execute in Filer's name and on Filer's behalf, and file with the U.S. Securities and Exchange Commission (the "SEC") any of the following forms which Filer may be required or permitted to file:

A. Form ID and any other documents necessary or appropriate to obtain codes and passwords enabling Filer to make electronic filings with the SEC of reports required by Section 16(a) of the Securities Exchange Act of 1934 (the "Exchange Act") or any rule or regulation of the SEC;

B. Forms 3, 4 and 5 or any other reports or statements of beneficial ownership or changes of beneficial ownership necessary or appropriate under Section 16(a) of the Exchange Act; and

C. Form 144, or any other notice of proposed sale of securities or other document necessary or appropriate under Rule 144 of the Securities Act of 1933 (the "Securities Act").

(2) do and perform any and all acts for and on Filer's behalf which may be necessary or desirable to complete and execute any such FormID, 3, 4, 5, or 144, complete and execute any amendment or amendments thereto, and timely file such form with the SEC and any stock exchange or similar authority.
In accordance with the authority granted under the Power of Attorney, including the power of substitution, the undersigned hereby appoints Jenarae N. Garland as a substitute attorney-in-fact, on behalf of Filer, with the full power of substitution, to exercise and execute all of the powers granted or conferred to the undersigned in the Power of Attorney.  By signature to this Substitute Power of Attorney, Jenarae N. Garland accepts such appointment.
This Substitute Power of Attorney shall remain in force for so long as Filer may be subject to reporting obligations under Section16(a) of the Exchange Act or the requirements of Rule 144 under the Securities Act, unless earlier expressly revoked by Filer in writing and delivered to Phillips 66.
IN WITNESS WHEREOF, the undersigned have caused this Substitute Power of Attorney to be executed as of this 12th day of October, 2022.

By: /s/ Julie P. Pradel
Name: Julie P. Pradel
Title: Attorney-in-Fact
       I ACCEPT THIS APPOINTMENT AND SUBSTITUTION:

       By: /s/ Jenarae N. Garland
       Name: Jenarae N. Garland



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