Chevron Announces $16 billion 2024 Capex Budget
Chevron Corporation (NYSE: CVX) today announced an expected organic capital expenditure range of $15.5 to $16.5 billion for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) budget of approximately $3 billion for 2024.
- Chevron Corporation (NYSE: CVX) today announced an expected organic capital expenditure range of $15.5 to $16.5 billion for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) budget of approximately $3 billion for 2024.
- Downstream capex is expected to be roughly $1.5 billion, with 80 percent allocated to the United States.
- Included in the upstream and downstream budgets is approximately $2 billion in lower carbon capex to lower the carbon intensity of traditional operations and grow new energy business lines.
- Following closing of the acquisition, Chevron’s annual capex budget is expected to be between $19 and $22 billion.