Phillips 66 (PSX) announces 2025 capital program

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Go back to Phillips 66 (PSX) announces 2025 capital program

Phillips 66 announces 2025 capital program

December 16, 2024 7:00 AM EST

HOUSTON--(BUSINESS WIRE)-- Phillips 66 (NYSE: PSX) today announced a 2025 capital budget of $2.1 billion, including $998 million for sustaining capital and $1.1 billion for growth capital.

We continue to demonstrate capital discipline, aligning our investments with our strategic priorities, said Mark Lashier, chairman and CEO of Phillips 66. The budget underscores our dedication to delivering value to shareholders by funding growth in the NGL wellhead-to-market value chain and further enhancing refining competitiveness.

In Midstream, the capital budget of $975 million comprises $429 million for sustaining projects and $546 million for growth projects. The budget advances the integrated NGL wellhead-to-market... More