Phillips 66 (NYSE:PSX) announced a 2024 capital budget of $2.2 billion, with $923 million allocated for sustaining capital and $1.3 billion for growth. The budget supports strategic priorities such as the NGL value chain, the Rodeo renewable fuels facility, and refining performance enhancements. Excluding joint venture debt repayments, the budget is $2 billion. The company aims to return $13B-$15B to shareholders by the end of 2024. The budget includes savings from business transformation efforts and the consolidation of DCP Midstream. Phillips 66's share of capital spending in joint ventures CPChem and WRB is expected to be $1 billion and self-funded. The total 2024 capital program, including joint ventures, is projected at $3.2 billion.