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Released December 16, 2019 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Midstream and refining company Phillips 66 (NYSE:PSX) (Houston, Texas), announced Friday it has earmarked $4.55 billion for its adjusted capital program for 2020, up by about $400 million from what was planned for 2019. In addition to capital for Phillips 66 and master limited partnership Phillips 66 Partners (NYSE:PSXP)(Houston), the adjusted spending program includes funding for its jointly-held midstream, refining and petrochemical operations.
Industrial Info is tracking $10.76 billion in project activity in various stages of development by Phillips 66.
Click on the image at right for a graph showing Phillips 66 project activity by market region.
The total adjusted capital program includes $1.59 billion for sustaining capital, and $2.96 billion for growth capital.
The midstream budget, excluding Phillips 66 Partners, contains funding for the Liberty and Red Oak crude oil pipelines and 450,000 barrels per day (BBL/d) of additional fractionation capacity at the Sweeny Hub in Texas, Phillips 66 said.
The Liberty Pipeline will transport crude oil from the Rockies and Bakken production areas to Cushing, Oklahoma. Construction on the 350,000-BBL/d pipeline is expected to kick off early next year and begin service in 2021. For more information, see Industrial Info's project reports on the North Dakota, South Dakota, Kansas, Nebraska and Oklahoma portions of the pipeline.
The Red Oak pipeline system will connect Cushing and the Permian Basin to locations along the Texas Gulf Coast. Construction on the Red Oak is expected to begin next summer, and it is expected to begin service in 2021. The pipeline will move up to 400,000 BBL/d of oil. For more information, see Industrial Info's project reports on the Texas and Oklahoma portions of the pipeline.
At the Sweeny Hub near Old Ocean, Texas, Phillips 66 is adding three natural gas liquids fractionators, each with a capacity of 150,000 BBL/d. For more information, see Industrial Info's project reports on Frac 2, Frac 3 and Frac 4.
The Phillips 66 Partners budget includes investments in the South Texas Gateway Terminal, among other projects. The terminal in Ingleside, Texas, will receive oil from the Gray Oak Pipeline. The crude oil loading and unloading terminal will have more than 7 million barrels of storage capacity upon its planned startup in mid-2020. Phillips 66 is constructing the project with Buckeye Partners (NYSE:BPL) (Houston). For more information, see Industrial Info's project report.
Phillips 66's refining capital budget includes about $600 million for reliability, safety and environmental projects. The capital also will fund fluid catalytic cracking unit (FCCU) upgrades at its Ponca City and Sweeny refineries, renewable diesel projects and other projects. For more information, see Industrial Info's project report on the Ponca City FCCU 4 upgrade and the Sweeny Refinery FCCU 3 upgrade.
Phillips 66's share of capital spending by joint ventures DCP Midstream LLC (NYSE:DCP) (Denver, Colorado), Chevron Phillips Chemical Company (The Woodlands, Texas) and WRB Refining LP is expected to be $1.2 billion in 2020, roughly flat with its initial 2019 capital program.
The Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Industrial Info is tracking $10.76 billion in project activity in various stages of development by Phillips 66.
Click on the image at right for a graph showing Phillips 66 project activity by market region.The total adjusted capital program includes $1.59 billion for sustaining capital, and $2.96 billion for growth capital.
The midstream budget, excluding Phillips 66 Partners, contains funding for the Liberty and Red Oak crude oil pipelines and 450,000 barrels per day (BBL/d) of additional fractionation capacity at the Sweeny Hub in Texas, Phillips 66 said.
The Liberty Pipeline will transport crude oil from the Rockies and Bakken production areas to Cushing, Oklahoma. Construction on the 350,000-BBL/d pipeline is expected to kick off early next year and begin service in 2021. For more information, see Industrial Info's project reports on the North Dakota, South Dakota, Kansas, Nebraska and Oklahoma portions of the pipeline.
The Red Oak pipeline system will connect Cushing and the Permian Basin to locations along the Texas Gulf Coast. Construction on the Red Oak is expected to begin next summer, and it is expected to begin service in 2021. The pipeline will move up to 400,000 BBL/d of oil. For more information, see Industrial Info's project reports on the Texas and Oklahoma portions of the pipeline.
At the Sweeny Hub near Old Ocean, Texas, Phillips 66 is adding three natural gas liquids fractionators, each with a capacity of 150,000 BBL/d. For more information, see Industrial Info's project reports on Frac 2, Frac 3 and Frac 4.
The Phillips 66 Partners budget includes investments in the South Texas Gateway Terminal, among other projects. The terminal in Ingleside, Texas, will receive oil from the Gray Oak Pipeline. The crude oil loading and unloading terminal will have more than 7 million barrels of storage capacity upon its planned startup in mid-2020. Phillips 66 is constructing the project with Buckeye Partners (NYSE:BPL) (Houston). For more information, see Industrial Info's project report.
Phillips 66's refining capital budget includes about $600 million for reliability, safety and environmental projects. The capital also will fund fluid catalytic cracking unit (FCCU) upgrades at its Ponca City and Sweeny refineries, renewable diesel projects and other projects. For more information, see Industrial Info's project report on the Ponca City FCCU 4 upgrade and the Sweeny Refinery FCCU 3 upgrade.
Phillips 66's share of capital spending by joint ventures DCP Midstream LLC (NYSE:DCP) (Denver, Colorado), Chevron Phillips Chemical Company (The Woodlands, Texas) and WRB Refining LP is expected to be $1.2 billion in 2020, roughly flat with its initial 2019 capital program.
The Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
