Phillips 66 (PSX) Announces 2024 Capital Program

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Go back to Phillips 66 (PSX) Announces 2024 Capital Program

Phillips 66 Announces 2024 Capital Program

December 8, 2023 12:08 PM EST

Disciplined Capital Allocation to Advance Strategic Priorities

HOUSTON--(BUSINESS WIRE)-- Phillips 66 (NYSE: PSX) today announced a 2024 capital budget of $2.2 billion, including $923 million for sustaining capital and $1.3 billion for growth capital. Excluding joint venture debt repayments due in 2024, the companys 2024 capital budget is $2 billion.

We continue to demonstrate capital discipline in support of our strategic priorities, said Mark Lashier, president and CEO of Phillips 66. The 2024 capital budget includes investing in our NGL wellhead-to-market value chain, completing the Rodeo renewable fuels facility and enhancing Refining performance. In addition, the capital... More