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
First Published: 2018-06-13 14:48:37
Updated 2018-06-13 16:58:00
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