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flag Phillips 66 approved a $2.4 billion 2026 plan to boost natural gas liquids and refining efficiency.

flag Phillips 66 has approved a $2.4 billion capital plan for 2026, increasing investment in midstream and refining projects to expand natural gas liquids capacity and improve refining efficiency. flag Key initiatives include the Iron Mesa gas plant in the Permian Basin, a pipeline expansion to 350,000 barrels per day, and a proposed fractionator in Corpus Christi. flag The Humber gasoline project in the UK and over 100 smaller refining upgrades are also underway. flag The plan follows the acquisition of WRB Refining and reflects a focus on higher-return projects, stronger margins, and shareholder returns.

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