Phillips 66 (PSX) announced its 2021 capital budget of $1.7 billion, which includes $0.3 billion at Phillips 66 Partners. In Midstream, the company plans to invest $610 million, including $300 million of Phillips 66 Partners adjusted capital spending. The Refining capital budget includes $521 million of sustaining capital for reliability, safety and environmental projects.

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RTTNews | Dec 14, 2020 07:10AM EST

07:10 Monday, December 14, 2020 (RTTNews.com) - Phillips 66 (PSX) announced its 2021 capital budget of $1.7 billion, which includes $0.3 billion at Phillips 66 Partners. In Midstream, the company plans to invest $610 million, including $300 million of Phillips 66 Partners adjusted capital spending. The Refining capital budget includes $521 million of sustaining capital for reliability, safety and environmental projects.

Greg Garland, chairman and CEO of Phillips 66, stated: "We continue to focus on reducing capital expenditures as market conditions remain challenged. We are prioritizing completion of in-progress projects, as well as advancing our investments in renewable fuels."

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