Premium Industrial NewsConocoPhillips Ups Capex 36% for 2022, but Treads Carefully on Big Projects
ConocoPhillips Ups Capex 36% for 2022, but Treads Carefully on Big Projects
Industry Segment: Production | Word Count: 800 Words
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SUGAR LAND--December 7, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--ConocoPhillips (NYSE:COP) (Houston, Texas) plans to increase its 2022 capital expenditures (capex) 36% from its projected total for 2021, but that doesn't mean the oil and gas giant is preparing for a massive exploration or production buildout. Rather, the company expects only modest production growth, and acknowledges inflationary pressure is the driving force behind the additional spending. Industrial Info is tracking more than $5.8 billion worth of active projects involving ConocoPhillips globally, including $3.1 billion in the U.S. alone.
Within this article: Details on some of ConocoPhillips' highest-valued projects across the U.S., including massive buildouts along the northern Alaskan coast and sulfur-reduction efforts.
Other companies featured: Royal Dutch Shell plc (NYSE:RDS.A), Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM) and Jupiter Sulphur LLC.
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