Phillips 66 (PSX) Announces 2023 Capital Program
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December 9, 2022 11:11 AM EST
Continued Commitment to Disciplined Capital Allocation
HOUSTON--(BUSINESS WIRE)--
Phillips 66 (NYSE: PSX) today announced a 2023 capital program of $2 billion, including $865 million for sustaining capital and $1.1 billion for growth capital. Approximately 50% of growth capital supports lower-carbon opportunities. The capital program is consistent with the companys commitment to maintain a $2 billion annual budget through 2024.
The 2023 capital program reflects our ongoing commitment to capital discipline, said Mark Lashier, President and CEO of Phillips 66. Through our Business Transformation, we are capturing $200 million of sustaining capital efficiencies while prioritizing safety and reliability. We are also investing in... More
