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Home Energy

Chevron Announces $20 Billion Capital and Exploratory Budget for 2019

by The FINANCIAL
December 7, 2018
in Energy
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Chevron Announces $20 Billion Capital and Exploratory Budget for 2019

blog.al.com

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The FINANCIAL — Chevron Corporation announced a 2019 organic capital and exploratory spending program of $20 billion.

In the upstream business, approximately $10.4 billion is forecasted to sustain and grow currently producing assets, including $3.6 billion for the Permian and $1.6 billion for other shale and tight investments.

Approximately $5.1 billion of the upstream program is planned for major capital projects underway, including $4.3 billion associated with the Future Growth Project at the Tengiz field in Kazakhstan.

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Global exploration funding is expected to be about $1.3 billion. Remaining upstream spend will be for early stage projects supporting potential future developments.

Approximately $2.5 billion of planned capital spending is associated with the company’s downstream businesses that refine, market, and transport fuels, and manufacture and distribute lubricants, additives and petrochemicals.

 

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