Chevron (CVX) announces $15.5-$16.5 billion capex budget for 2024
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Chevron Announces $16 billion 2024 Capex Budget
December 6, 2023 5:15 PM ESTSAN RAMON, Calif.--(BUSINESS WIRE)-- Chevron Corporation (NYSE: CVX) today announced an expected organic capital expenditure range of $15.5 to $16.5 billion for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) budget of approximately $3 billion for 2024.
Upstream spending in 2024 is expected to be about $14 billion. Of this planned expenditure, two-thirds is allocated to the United States, including approximately $6.5 billion to develop Chevrons U.S. shale and tight portfolio, of which around $5 billion is planned for Permian Basin development. About 25 percent of U.S. upstream capex is planned for projects... More
