OGJ Newsletter

12/21/2009
General Interest — Quick TakesChevron announces $21.6 billion capital budgetChevron Corp. announced a $21.6 billion capital and exploratory spending program for 2010, down 5% from projected 2009 spending.Included in the 2010 budget are $1.6 billion of expenditures by affiliates, which do not require cash outlays by Chevron's consolidated companies. Dave O'Reilly, chairman and chief executive officer, said 80% of the 2010 spending program is for upstream exploration and production projects worldwide. Another 16% is earmarked for the company's downstream businesses that manufacture, transport, and sell gasoline, diesel fuel, and other refined products."Much of our 2010 spending c...
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