Phillips 66 To Expand Texas Natural Gas Liquids Project
June 13 (Reuters) - U.S. oil refiner Phillips 66 said on Wednesday it planned to spend up to $1.5 billion on the expansion of its natural gas liquids project in Sweeny, Texas.
The expansion includes the construction of two natural gas liquids fractionators, with a capacity of 150,000 barrel per day (bpd) each, the company said.
DCP Midstream LP said it had an option to buy up to a 30 percent stake in the fractionators. The option would be exercisable once the project is completed and has a capital investment of about $400 million..
The project, which is set to begin commercial operations in late 2020, will increase Sweeny hub's natural gas liquids refining capacity to 400,000 bpd.
(Reporting by Parikshit Mishra in Bengaluru; Editing by Shounak Dasgupta)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Weatherford CEO's Rebound Plan Relies On Getting Smaller
- Iran Says Oil Market Is Too Tight For US Zero Exports Target
- China's Squeezed 'Teapots' Eye Petchem Path To Riches
- Baker Hughes: US Drillers Add Oil Rigs For Second Week In Three
- Venezuela Hands China More Oil Presence, But No Mention Of New Funds
- API Mulls Embrace of Carbon Pricing
- Tethys Hits Hydrocarbons Onshore Oman
- Oil Exports from Offshore Louisiana Facility Fall to Zero
- Survey Shows Extra Saudi Oil Output Cuts
- CVX Invests in Geothermal Development Co
- Kerry Pitches Hydrogen to Oil and Gas Industry
- Petrobras Awards Contract for Buzios FPSO
- India Calls on OPEC+ to Produce More Crude
- BKR and AKAST Create New Offshore Drilling Co
- Will Oil Price Rise Strain OPEC+ Relations?
- ERCOT Directors Resign
- China Oil Reserves Close to Capacity
- Conoco COO Retires
- Scoop Stack Oil Output Slashed
- Qatar Petroleum Awards Major EPC Deal
- Exxon in $1B+ North Sea Deal
- DOE Awarding up to $46MM for Geothermal Projects
- Cheniere to Provide Emissions Data to LNG Customers
- API Mulls Embrace of Carbon Pricing
- Ecopetrol Chief Defends $4B Utility Deal
- Qatar Petroleum Greenlights $29B LNG Project
- Total Bolsters Renewable Portfolio with Texas Buys
- How Many US GOM Jobs Could Go Under Biden?
- Republican Senators Request Biden Meeting
- How Many US Oil Jobs Were Lost in 2020?
- Nigeria Judge Issues Arrest Warrant for Local Exxon Exec
- Ng Spurns Keystone XL Nafta Challenge
- Texas Governor Addresses Skyrocketing Energy Bills
- Could Biden Order Kill GOM Oil and Gas?
- US Sees Largest Production Disruption Ever