Refining and midstream giant Phillips 66 announced that it would increase its 2014 capital budget by $1.2 billion this year in order to fund its liquefied petroleum gas project as well as a recent acquisition.
More than a year after a compromise paved the way for high-volume oil and gas extraction in Illinois, the agency in charge of overseeing the practice has hired just four of 53 new employees it says it needs as it continues working to complete rules drillers must follow.
Refiners fighting against biofuel mandates, environmental regulations and changes in U.S. export policy may have new allies on Capitol Hill, with the launch Wednesday of a congressional caucus dedicated to the sector.
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