Chevron Plans to Invest $15 Billion in 2022

Written by Roberta Souza Published on 02/12/2021 at 20:20

Chevron/ Fonte: Money Times

The Leading American Oil Company Chevron Corporation Announced Its Organic Capital of US$ 15 Billion for Spending in 2022

The capital is at the lower end of the estimate, which was between US$ 15 and US$ 17 billion and is more than 20% above what was expected for 2021. The oil company also expects to increase its share buyback program. Last Monday, Chevron explained that this capital program aims to support the goal of higher returns and lower carbon, which includes approximately US$ 800 million less in carbon spending.

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Additionally, the program excludes the US$ 600 million expected for the formation of a joint venture with Bunge, a multinational in the agriculture and food sector, aimed at producing raw materials for renewable fuels.

It is worth noting that, in March 2021, Chevron reaffirmed its 2021-2025 guidance for organic capital and exploratory expenses of US$ 14 to US$ 16 billion.

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Upstream Investments and Exploratory Spending

Chevron has a total planned capital for upstream and exploratory spending of approximately US$ 12.6 billion, with US$ 8 billion currently directed towards production assets. This includes about US$ 3 billion for unconventional development in the Permian Basin and approximately US$ 1.5 billion for other shale and tight assets worldwide.

Additionally, US$ 3 billion from the company’s upstream program is designated for ongoing capital projects. Of that amount, approximately US$ 2 billion is associated with the Future Growth Project and Wellhead Pressure Management Project (FGP / WPMP) in the Tengiz field in Kazakhstan.

Finally, the amount of US$ 1.5 billion is reserved for exploration, early-stage development projects, intermediate activities, and carbon reduction opportunities.

Approximately US$ 2.3 billion of planned organic capital spending is allocated to the downstream sector of the oil company, which refines, markets, and transports fuels, in addition to manufacturing and distributing lubricants, additives, and petrochemical products. This also includes capital to develop renewable products and fuels businesses.

Chevron Plans to Invest $15 Billion in 2022

The Leading American Oil Company Chevron Corporation Announced Its Organic Capital of US$ 15 Billion for Spending in 2022

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Upstream Investments and Exploratory Spending

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Chevron Plans to Invest $15 Billion in 2022

The Leading American Oil Company Chevron Corporation Announced Its Organic Capital of US$ 15 Billion for Spending in 2022

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In the cold desert of Ladakh, where it hardly rains, engineer Sonam Wangchuk created the ice stupa, a tower that freezes winter water and stores it for irrigating crops in the spring, a simple engineering feat that mimics nature.

Almost 6,000 residents live concentrated along a single street nearly 9 km long in the interior of Poland. Houses form a continuous row, and behind them, narrow agricultural strips emerge, creating one of the most unusual rural patterns in Europe.

Júlia Pimentel, an 11-year-old from Minas Gerais, independently invented a new formula to calculate the square root using simple addition and multiplication, and her method was published in one of the most important mathematical scientific journals in Brazil.

They planted a sea of eucalyptus to produce cellulose, but the monoculture turned into a green desert, dried up springs and rivers, and pushed families out of regions in Minas Gerais and Bahia.

Chinese woman planted trees for decades while sand buried part of her house, received $5,000 from an American in 1999, and helped transform the desert into a forest of 8 million trees in China.

Without her own home and pressured by rent, a 25-year-old bought a small 15-meter boat, gradually renovated the interior by herself, transformed the interior with paint, new flooring, a larger bathroom, and started living on the canals, paying much less per month.

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