Phillips 66 to pour billions in new capital projects next year

[Elderberry]

Houston Chronicle 12/17/2018 by Marissa Luck

Houston-based Phillips 66 plans to pour significantly more into its capital budget next year as it expands its oil pipeline network, invests in its refineries and grows its petrochemical business.

Here are some takeaways from the capital budget:

• A lot of money will go towards expanding its pipeline network and terminals.
• Construction on the Gray Oak Pipeline will wrap up next year.
• The company appears to be getting more serious about expanding its Gulf Coast petrochemical business,
• Construction on a 42-inch Colorado-to-Gulf Coast pipeline to complete late next year.
• Phillips 66's Sweeny Hub in Old Ocean, Texas will continue to see upgrades

More: https://www.houstonchronicle.com/business/energy/article/Phillips-66-to-pour-billions-in-new-capital-13467815.php

[IsailedawayfromFR]

Plenty of money to be made in the Midstream and Downstream businesses.  Capital spent there are always indicative of long-term growth vs the heady ups and downs of the Upstream business.