Phillips 66 lowers 2021 spending budget after pandemic hit
16.12.2020
MOSCOW (MRC) -- US oil refiner Phillips 66 on Monday set its 2021 capital budget at USD1.7 billion, around 43% lower than forecast for the previous year, as the energy industry struggles to recover from the blow of the COVID-19 pandemic, reported Reuters.The coronavirus crisis and resulting lockdowns upended global travel and fuel demand, creating a supply glut that pushed US crude oil pr