Phillips 66 Boosts 2026 Capex to $2.4 Billion, Focusing on NGLs, Refining

December 18, 2025--Written by Danny Levin, Deputy Editor for Industrial Info Resources (Sugar Land, Texas)--Philips 66 has approved a $2.4 billion capital budget for 2026, which is slightly above this year's forecast, with growth spending geared toward the company's midstream natural gas liquids network and high-return refining projects.