Chevron Announces $18.3 Billion Capital and Exploratory Budget for 2018

SAN RAMON, Calif.–(BUSINESS WIRE)–Dec. 6, 2017–
Chevron Corporation (NYSE:CVX) today announced a 2018 capital and
exploratory spending program of $18.3 billion. This figure includes $5.5
billion for the company’s share of expenditures by affiliated companies.

“Our 2018 budget is down for the fourth consecutive year, reflecting
project completions, improved efficiencies, and investment
high-grading,” said Chairman and CEO John Watson. “We’re fully funding
our advantaged Permian Basin position and dedicating approximately
three-quarters of our spend to projects that are expected to realize
cash flow within two years.”

Chevron News Release

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