Phillips 66 eyes billions of dollars in 2020 growth spending

Houston-based Phillips 66 (NYSE: PSX) plans to spend about $2.15 billion on growth in 2020.

Phillips 66, which produces more revenue than any other Houston-based public company, will put the lion’s share of that capital to work in its midstream segment under both the top-level corporation and its master limited partnership, Phillips 66 Partners LP (NYSE: PSXP), according to a press release.

The company’s midstream growth budget of $1.62 billion includes funding for a number of joint venture…

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