Phillips 66 Capex, Faster Pipeline Permitting: Your Daily Energy News

News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

CORPORATE SPENDING
Phillips 66 Boosts 2026 Capex Plan - Phillips 66 (Houston, Texas) has approved a $2.4 billion capital budget for 2026, slightly above its forecast for this year, as it shifts growth spending toward expanding its midstream natural gas liquids network and higher-return refining projects. Its capital budget for the midstream and refining units of $1.1 billion each compares with the estimated expenditure of $975 million and $822 million, respectively, in 2025. (Reuters)

PIPELINES
U.S. House Passes Bill to Fast-Track Natural Gas Pipeline Permitting - The U.S. House of Representatives on Friday voted 213-184 to pass a bill that aims to speed up federal permitting of interstate natural gas pipelines by designating the U.S. Federal Energy Regulatory Commission (FERC) as the lead agency in the process. The Improving Interagency Coordination for Pipeline Reviews Act gives the agency the authority to weigh water quality assessments in its environmental review process instead of having to wait for a separate certification under the Clean Water Act from states, which has prolonged the permitting process. (Reuters)

U.S.-EUROPE
Reuters: Document Shows U.S. Wants Exemption from EU Methane Emissions Law - The U.S. has demanded that the European Union (EU) exempt its oil and gas from obligations under the bloc's methane emissions law on fuel imports until 2035, a U.S. government document seen by Reuters showed. Starting this year, the EU requires importers of oil and gas to Europe to monitor and report methane emissions associated with those imports, in a bid to curb emissions of the potent planet-warming gas. The EU said last week it would offer companies simpler routes to prove compliance with the law, aimed at complex supply chains like those in the U.S. where one LNG shipment contains gas from many different production fields. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).