Phillips 66 Sets $3B 2025 Capital Program Focused on Growth [Yahoo! Finance]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: Yahoo! Finance
Phillips 66 ( PSX , the Houston-based oil giant, revealed its 2025 capital budget last week, totaling $2.1 billion, with a strategic focus on sustaining capital and growth investments. The company plans to allocate $998 million for sustaining capital, with $1.1 billion earmarked for growth initiatives. Mark Lashier, chairman and CEO of Phillips 66, highlighted the company's continued focus on capital discipline, ensuring that investments are aligned with its strategic priorities. The budget reflects Phillips 66's commitment to delivering shareholder value by supporting growth in the NGL wellhead-to-market value chain and further strengthening refining competitiveness. A significant portion of the capital budget, $975 million, will be dedicated to the Midstream segment, with $429 million allocated for sustaining projects and $546 million for growth projects. This investment will focus on strengthening Phillips 66's position in key basins, including increasing gas processing capaci
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PSX
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- 10/29/24 - Miss
PSX
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- 12/9/24 - Form 4
- 12/9/24 - Form 4
- 12/9/24 - Form 4
- PSX's page on the SEC website