07:33 AM EDT, 07/31/2026 (MT Newswires) -- Phillips 66 (PSX) said Friday its board authorized an additional $10 billion of share repurchases, increasing the company's buyback capacity as the remaining authorization nears depletion.

The company said repurchases may be made from time to time through open market or privately negotiated transactions, subject to market conditions and other factors.

Phillips 66 said the timing, amount and manner of any repurchases will depend on factors including market conditions, legal requirements and other considerations, and that the program may be modified, suspended or discontinued at any time without prior notice.