Skip to main content

Chevron announces US$26.6 billion capital

Published by , Digital Assistant Editor
Hydrocarbon Engineering,


Chevron Corp. has announced a US$26.6 billion capital and exploratory investment programme for 2016. Included in the 2016 program are US$4.5 billion of planned expenditures by affiliates. The 2016 budget is 24% lower than total expected investments for 2015.

"Our capital budget will enable us to complete and ramp-up projects under construction, fund high return, short-cycle investments, preserve options for viable long-cycle projects, and ensure safe, reliable operations," said Chairman and CEO John Watson.

"We gain significant flexibility in our capital program as we complete projects under construction," Watson continued. "Given the near-term price outlook, we are exercising discretion in pacing projects that have not reached final investment decision."

Chevron 2016 Planned Capital & Exploratory Expenditures:

  • US Upstream: US$5.4 billion
  • International Upstream: US$18.6 billion
  • Total Upstream: US$24.0 billion
  • US Downstream: US$1.6 billion
  • International Downstream: US$0.6 billion
  • Total Downstream: US$2.2 billion
  • Other: US$0.4 billion
  • TOTAL (Including Chevron's Share of Expenditures by Affiliated Companies): US$26.6 billion
  • Cash Expenditures by Chevron Consolidated Companies: US$22.1 billion
Edited from press release by

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/11122015/chevron-announces-exploratory-investment-programme-1758/

You might also like

The Hydrocarbon Engineering Podcast - Education and training for every phase of the insulating system design process

In this episode of the Hydrocarbon Engineering Podcast, Brandon Stambaugh, Owens Corning Director for Technical Services, joins us to discuss engineers’ demand for education and training to support the critical phases that affect the performance and longevity of insulating systems.

Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.

Apple Podcasts  Spotify Podcasts  YouTube

 
 

Embed article link: (copy the HTML code below):