Chevron (CVX) Announces 2023 Capital Expenditure Budgets (earlier)
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Chevron Announces 2023 Capital Expenditure Budgets
December 7, 2022 5:10 PM ESTOrganic capex of $14 billion; affiliate capex of $3 billion Includes $2 billion of lower carbon capex
SAN RAMON, Calif.--(BUSINESS WIRE)-- Chevron Corporation today announced 2023 organic capital expenditure budgets of $14 billion for consolidated subsidiaries (capex) and $3 billion for equity affiliates (affiliate capex), which total near the high end of the companys guidance range.
The companys 2023 capex budget is up more than 25% from 2022 expected spend, excluding acquisitions. Affiliate capex in 2023 is down modestly from 2022 expected spend. These budgets support Chevrons objective to safely deliver higher returns and lower carbon and include... More
