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Phillips 66 announces their third-quarter earnings of $511 million dollars, compared with $496 million in the second quarter of 2016.  Adjusted earnings were $556 million dollars, an increase of $57 million dollars from the last quarter.  Chairman and CEO Greg Garland said that this year we are delivering record operational excellence results, managing costs, executing our major projects, and maintaining disciplined capital allocation.  Garland also said that they lowered the forecasted 2016 capital expenditures to approximately $3 million dollars.