Phillips 66 sets a $2.4 billion budget for 2026, with $1.3 billion allocated for growth initiatives, including NGL and refining projects.

Dec ‌15 - ​Phillips 66 ‌on Monday ​forecast ‍higher ​spending ​in 2026 ⁠as the U.S. refiner ‌expects increased disbursement ​in ‌its ‍midstream and refining ⁠segment. The company expects ​to spend $2.4 billion, compared with $2.1 billion projected for this year.

Phillips 66 unveiled a $2.4 billion capital budget for 2026, slightly above the current year, focusing growth capital in natural gas liquids and high-return refining projects.

Phillips 66 has approved a $2.4 billion capital budget for 2026, slightly above its forecast for this year, as it shifts growth spending toward expanding its midstream natural gas liquids (NGL) network and higher-return refining projects.

Phillips 66 set a $2.4 billion capital budget for next year, comprising $1.1 billion for sustaining projects and $1.3 billion for growth projects. Chief Executive Mark Lashier said Monday that the budget reflects the Houston-based oil refiner's commitment to capital discipline and maximizing shareholder returns.

Phillips 66 announced its 2026 capital budget of $2.4 billion, including $1.1 billion for sustaining capital and $1.3 billion for growth capital.

Houston, Texas-based refiner Phillips 66 (NYSE:PSX) has increased its 2026 capital budget to $2.4 billion, including $1.3 billion for growth capital and $1.1 billion for sustaining capital

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That same year Ed Phillips and Sons, a wholesale distributor of things like candy, magazines, and newspapers, was established in Eau Claire. That was the family business that L.E. Phillips eventually rose to become the president of; the first of two presidencies he held.

Earlier today, the company stated: “Phillips 66 (PSX) announced its 2026 capital budget of $2.4 billion, including $1.1 billion for sustaining

A new report recommends that refineries write decommissioning plans like those required of other energy infrastructure, and set aside funds to carry out cleanups, before they shut down.