NEW YORK, Oct 29 (Reuters) - U.S. crude oil refiner

Phillips 66 expects its 2024 refinery turnaround expense

to be around $485 million to $495 million, a reduction of more

than $100 million from its previous guidance, its chief

financial officer said during a conference call with analysts on

Tuesday.

The refiner's execution of maintenance work and the

"enhanced inspection process" put in place over the last few

years have allowed it to extend the intervals between

turnarounds and reduce costs, Kevin Mitchell said.

"We've actually gotten much more efficient at our execution

through a number of initiatives that we've put in place with the

turnarounds and we're seeing the fruits of that labor come

through now."