Phillips 66 says 2020 capital budget is $3.3 bln

Phillips 66 - 2020 capital budget is $3.3 billion, net of $0.5 billion expected cash capital contributions from joint venture partners.phillips 66 - 2020 adjusted capital budget includes $0.9 billion for phillips 66 partners.phillips 66 - 2020 midstream budget, excluding phillips 66 partners, primarily reflects funding for liberty and red oak crude oil pipelines.phillips 66 - long-term objective to reinvest 60% of cash flow back into business and return 40% to shareholders through dividends and share buybacks.phillips 66 - total consolidated capital spending inclusive of cash funded by joint venture partners is expected to be $3.8 billion in 2020.phillips 66 - total consolidated midstream capital spending inclusive of cash funded by jv partners is expected to be $2.4 billion in 2020.
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