Phillips 66 expects fourth-quarter refining turnaround expense of $140 million to $170 million
PSX•Phillips 66 expects fourth-quarter refining turnaround expenses of $140 million to $170 million and refinery crude utilization in the mid-90% range. It projects corporate and other costs of $350 million to $380 million.
1. Fourth-quarter outlook
Phillips 66 expects fourth-quarter 2026 refinery crude utilization in the mid-90% range, compared with 98% in the third quarter. It forecasts turnaround expenses of $140 million to $170 million and corporate and other costs of $350 million to $380 million. Chemicals global olefins and polyolefins utilization is expected in the mid-80% range. Midstream projects are expected to support mid-single-digit adjusted EBITDA growth through the decade, while the shareholder-return target remains above 50% of operating cash flow excluding working capital, which totaled $6.2 billion in the third quarter.
