Phillips 66 (PSX) announced its 2026 capital budget of $2.4 billion, including $1.1 billion for sustaining capital and $1.3 billion for growth capital. In Midstream, the capital budget of $1.1 billion includes $400 million for sustaining projects and $700 million for growth projects.
"The 2026 capital budget reflects our ongoing commitment to capital discipline and maximizing shareholder returns. We are investing growth capital in our NGL value chain and high-return Refining projects, while also investing sustaining capital to support safe and reliable operations," said Mark Lashier, CEO of Phillips 66.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.