** Shares of U.S. refiner Phillips 66 PSX.N fall over 3% to $118.84
** Company to sell its 25% stake in the Gulf Coast Express pipeline in Texas to an affiliate of ArcLight Capital Partners for $865 million
** PSX also forecasts lower capital expenditure of $2.1 bln in 2025, compared to $2.2 bln it projected in 2024
** Company expects refining expenditure of $822 mln in 2025, compared with $1.07 bln it expects to spend for the unit in 2024
** Shares further pressured by declining crude prices O/R
** Including session's moves, stock is down about 11% YTD
(Reporting by Vallari Srivastava in Bengaluru)
((Srivastava.Vallari@thomsonreuters.com;))
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