According to FuelFix, Phillips 66 approved a $3 billion investment in two facilities 60 miles south of Houston.

  1. A planned liquefied petroleum gas export terminal in Freeport capable of exporting 4.4 million barrels of products like butane and propane overseas every month by 2016.
  2. A new fractionation facility in Old Ocean that will separate natural gas liquids into chemicals used in plastics manufacturing and other industries. 

Combined the two Brazoria County facilities would create 50 permanent jobs in southeast Texas, Phillips 66 says.  The economic impact of the expansion is magnified as the money flows through the area and creates additional jobs and economic opportunities for supplies and other vendors related to the Oil an Gas industry.