Phillips 66 (PSX) Announces $1.9B Capital Program

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Go back to Phillips 66 (PSX) Announces $1.9B Capital Program

Phillips 66 Announces 2022 Capital Program

December 10, 2021 12:03 PM EST

Disciplined Capital Allocation; Focus on Lower-Carbon Opportunities

HOUSTON--(BUSINESS WIRE)-- Phillips 66 (NYSE: PSX) today announced its 2022 capital program of $1.9 billion. The plan includes $992 million for sustaining capital and $916 million for growth capital. Approximately 45% of growth capital supports lower-carbon opportunities.

The 2022 capital program demonstrates our commitment to disciplined capital allocation, said Greg Garland, Chairman and CEO of Phillips 66. Our plan for sustaining capital reflects our ongoing focus on operating excellence to ensure the safety and reliability of our operations. We are also investing in returns-focused growth opportunities, including... More