December 20, 2018
Phillips 66 says it’s investing in growth projects and building its midstream network.
As part of its 2019 capital program, Houston-based Phillips said this week it is also funding safety and reliability projects.
The company’s capital budget is $2.3 billion, excluding Phillips 66 Partners LP, which has a separate capital budget net of $303 million..
In a statement, Chairman and CEO Greg Garland said, “The 2019 capital program reflects our strong portfolio of growth projects aligned with our long-term strategy.”
“We are building out our integrated Midstream infrastructure network, including pipelines, export facilities, and fractionation in support of growing hydrocarbon production in the key domestic shale plays.
“CPChem is also pursuing petrochemicals expansion opportunities on the U.S. Gulf Coast.”