• by Steve McClellan  @mp_mcclellan, February 10, 2014

Phillips 66 has selected Media Storm for media planning and buying duties after a review, according to sources.

The incumbent on the account was Palisades Media, which also participated in the review.

According to Kantar the Houston-based petroleum company spent about $10 million on ads in 2012, the last full year for which ad spend data is currently available.

Palisades stepped in to service the account last fall after the client’s previous media shop, KSL Media filed for bankruptcy. Sources said it was understood at the time that Palisades would handle Phillips’ media chores on an interim basis and that the client would hold a formal review, which it recently completed.

A number of KSL staffers who were on the Phillips assignment joined Palisades to continue work on the account. They will not be moving to Media Storm to continue further work on the business, according to one source familiar with the situation.

A Phillips rep didn’t return queries seeking comment on the review.  An agency rep said that nothing had been finalized and that it would be “pre-mature”  to report anything about the status of a selection at this time. The rep declined to clarify whether or not that meant contractual details were still being worked out.