Chevron budgets USD 20 billion for new projects

The US oil major presents a new budget for USD 20 billion mostly earmarked for exploration in connection with new projects.

Chevron wants to use USD 20 billion particularly for exploration in connection with new projects.

"Our investments are anchored in high-return short-cycle projects, with more than two-thirds of spend projected to realize cash flow within two years," writes Chevron Chair and CEO Michael K. Wirth in a press statement.

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