Chevron Plots $15 Billion in '22 Capex as it Juggles Drilling, Carbon-Reduction Plans

SUGAR LAND--December 3, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Chevron Corporation (NYSE:CVX) (San Ramon, California) is planning $15 billion in capital spending (capex) for 2022, an increase of more than 20% from its likely 2021 total. This includes about $800 million worth of carbon-reduction efforts. Like Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) and other top oil and gas players, Chevron has been enjoying a post-COVID-lockdown jump in profits from higher oil and gas prices, but is heeding investor concerns about overspending and climate change. Industrial Info is tracking more than $53.8 billion worth of active Chevron projects globally, including nearly $14.5 billion worth in North America.

Within this article: Details on some of Chevron's highest-valued projects across North America, including plans for the deepwater Gulf of Mexico, a carbon capture and storage (CCS) facility in California, and soybean-related feedstock developments across the U.S.

Other companies featured: Microsoft Corporation (NASDAQ:MSFT), Schlumberger (NYSE:SLB), Clean Energy Systems and Bunge Limited (NYSE:BG).