Touting major accomplishments for the year, including the acquisition of WRB Refining that has led to the full ownership of two refineries in Illinois and Texas, Phillips 66 in January announced an agreement to acquire a mothballed U.K. refinery and its assets. The company has announced a 2026 capital budget of $2.4 billion, which includes $1.3 billion allocated to organic growth and $1.1 billion for sustained operations.
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