Chevron Corporation has announced a $36.7 billion capital and exploratory investment program for 2013.
“Consistent with long-stated strategies, we’re investing in a portfolio of very attractive oil and gas projects that will deliver volume growth and real value to our stockholders,” said Chairman and CEO, John Watson. “Next year’s program supports several projects currently under construction, including our Australian LNG projects and United States deepwater developments. As these and other projects come online, we anticipate production will reach our 2017 goal of 3.3 million barrels per day.”
Approximately 90 per cent of the 2013 spending program is budgeted for upstream crude oil and natural gas exploration and production projects. Another seven per cent is associated with the company’s downstream businesses that manufacture, transport and sell gasoline, diesel fuel and other refined products, fuel and lubricant additives, and petrochemicals.