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Chevron projects S$20bil spending budget for 2019


Chevron will spend $4.3 billion on its Tengiz field in Kazakhstan. (Filepic shows a Chevron refinery)

Chevron will spend $4.3 billion on its Tengiz field in Kazakhstan. (Filepic shows a Chevron refinery)

HOUSTON: Chevron Corp, the second largest U.S.-based oil producer, is budgeting UA$20 billion for capital projects next year, the company said on Thursday.

The San Ramon, California-based company said it plans to spend $3.6 billion to produce oil and gas in the Permian Basin of west Texas and New Mexico and $1.6 billion for other shale investments.

Chevron will spend $4.3 billion on its Tengiz field in Kazakhstan.

About $2.5 billion of planned spending is for the downstream business that refines, transports and markets fuels and petrochemicals. - Reuters

Oil & Gas , Corporate News

   

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