The companysuffered a reversal of $91 million, compared with a $111 million profit a yearearlier, that included a $170 non-cash impairment on its investment in theRockies Express pipeline.
Adjustedearnings were down $32 million from a year ago at $79 million, mainly due tolower prices for natural gas liquids and higher operating costs.
Phillips 66is meanwhile pushing ahead with its Sand Hills pipeline to transport naturalgas liquids from Permian basin and Eagle Ford fields to the US Gulf coast, withthe first phase expected to come into service in the third quarter with initialthroughput capacity of 200,000 barrels per day.
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