Phillips 66 announces 2026 capex of $2.4B

Earlier today, the company stated: “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.” “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, chairman and CEO of Phillips 66. “With the consolidation of WRB Refining, we incorporated approximately $200 million of sustaining capital and $100 million of growth capital into the budget.”