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GasBuddy News Article

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Chevron sets 2013 capital budget of $36.7 billion

AP -- Chevron Corp. plans to spend $36.7 billion in 2013 on energy exploration and investments, including $3.3 billion of planned expenditures by affiliates, the oil giant said Wednesday.

That's up about 12 percent from this year's budget. About 90 percent of the 2013 budget is earmarked for upstream crude oil and natural gas exploration and production projects, while another 7 percent is for Chevron's downstream business that makes, transport and sell gasoline, diesel fuel and other refined products, fuel and lubricant additives, and petrochemicals.

The San Ramon, Calif., company said the spending will support projects like its Australian liquefied natural gas and U.S. deep-water developments. Chevron announced last year it was greenlighting a multi-billion-dollar LNG project called Gorgon i


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Submitted Dec 06, 2012 By: fracknsave
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Chevron sets 2013 capital budget of $36.7 billion Back to Topics
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ExplorerWA
Champion Author Washington

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Message Posted: Dec 7, 2012 12:11:32 AM

Wow! That's a lot of bucks. Inflation....printed paper.
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skybiker
Champion Author South Carolina

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Message Posted: Dec 6, 2012 11:55:44 PM

Oil biz is good...
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DanMtz
Champion Author Oakland

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Message Posted: Dec 6, 2012 7:58:17 PM

Wow, $100,000,000 per day.
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N5EXY
Champion Author Austin

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Message Posted: Dec 6, 2012 3:54:15 PM

Don't let Bozama find this out.
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Cheepo
Champion Author Tampa

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Message Posted: Dec 6, 2012 3:03:39 PM

Profit is great, we need more profitable companies to stop unemployment!!!!!!!!
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milespergallon
Champion Author Illinois

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Message Posted: Dec 6, 2012 2:16:38 PM

Reading further in the article we find that their PROFITS are UP EIGHTY PERCENT, yes 80%, and they are increase the capital budget by 12%.
AND!!!!!
The 80% is UP from the year before which was up from the year before and so on. I wonder if the could SQUEEZE and additional 6% and build a modern much more efficient refinery and reduce the prices at the pump! Yes they 'could' but probably won't
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dieselfiendSC
Champion Author South Carolina

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Message Posted: Dec 6, 2012 1:26:59 PM

It takes money to make money and it takes a lot of money to make a lot of money.
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bart_reed
Champion Author Los Angeles

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Message Posted: Dec 6, 2012 1:14:25 PM

Nothing like growth.
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Cellsite
Champion Author Appleton

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Message Posted: Dec 6, 2012 12:08:53 PM

Glad that it will help create and keep jobs, but will it lower gasoline prices at the pump?
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sdiddydaddy
Champion Author Grand Rapids

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Message Posted: Dec 6, 2012 12:06:36 PM

That's a nice budget to have.
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krobp46
Champion Author Milwaukee

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Message Posted: Dec 6, 2012 12:06:27 PM

It's nice to commit to exploration like that, but if the Obama Administration does not open Federal waters and lands to exploration, it will be money not spent
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GRUMPY55
Champion Author California

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Message Posted: Dec 6, 2012 12:03:49 PM

Raise the price at the pump to pay for it.
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jetmech568
Champion Author Idaho

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Message Posted: Dec 6, 2012 11:58:49 AM

most of that most likely to pay off government officials
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thirty8paces
Champion Author Baltimore

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Message Posted: Dec 6, 2012 11:56:56 AM

That's a lot of moola.
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JagXKR
Champion Author British Columbia

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Message Posted: Dec 6, 2012 11:55:21 AM

These kind of numbers are almost impossible for the average person to truly comprehend.
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TAT36
Champion Author Florida

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Message Posted: Dec 6, 2012 11:54:56 AM

And not a cent from tax payer subsidies.
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CharlieC08
Champion Author Colorado

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Message Posted: Dec 6, 2012 11:54:49 AM

Those dollars mean JOBS!
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bra0712
Champion Author Arizona

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Message Posted: Dec 6, 2012 11:53:28 AM

good for the rich people
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#12#_vabchusa
Champion Author Virginia

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Message Posted: Dec 6, 2012 11:53:12 AM

And?
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mikesr100
Champion Author Sacramento

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Message Posted: Dec 6, 2012 11:52:35 AM

OK!
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momof5MN
Champion Author Twin Cities

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Message Posted: Dec 6, 2012 11:46:04 AM

No subsidies.
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kuma2000
Champion Author Honolulu

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Message Posted: Dec 6, 2012 11:45:50 AM

The money used by Chevon in their exploration and investments are all profits that they generated from the public - hope this parlays to more oil production and lower gasoline prices.
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carpenter4u
Champion Author Virginia

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Message Posted: Dec 6, 2012 11:44:22 AM

and I wonder how to spend 36.7k
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SpankyMI
Champion Author Kalamazoo

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Message Posted: Dec 6, 2012 11:44:10 AM

It takes money to make money!
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MRHONEST
Champion Author Illinois

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Message Posted: Dec 6, 2012 11:43:43 AM

REALLY?
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Wanda127
Champion Author Florida

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Message Posted: Dec 6, 2012 11:43:11 AM

"Chevron, the nation's second-largest oil company,"

Wonder why they withdrew from several states if they are so BIG! I had their credit card but got a notice they were closing all their Virginia stations in 2011 when I lived there.

Maybe they have the money because they are not in all our states now?

But they need to invest in refineries more so we can get the fuel.

[Edited by: Wanda127 at 12/6/2012 11:45:33 AM EST]
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Yonkers111
Champion Author Scranton

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Message Posted: Dec 6, 2012 11:43:09 AM

That's what happens when a company does well, they invest in the business. Time to stop trying to demonize the successful.
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Prodaddy
Champion Author Houston

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Message Posted: Dec 6, 2012 11:39:10 AM

You can plan on more "price gouging " from them
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cateyes8264
Champion Author Tennessee

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Message Posted: Dec 6, 2012 11:38:54 AM

wish i had billions to just piss away
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crashintuc34
Champion Author Tucson

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Message Posted: Dec 6, 2012 11:38:49 AM

Evil big oil.
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georged12
Champion Author Michigan

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Message Posted: Dec 6, 2012 11:36:35 AM

And next year they will be crying for a tax break
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LVNV6ofSpades
Champion Author Las Vegas

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Message Posted: Dec 6, 2012 11:36:27 AM

atleast theyre reinvesting it in new technologies & exploration
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yeehaw1073
Champion Author Indiana

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Message Posted: Dec 6, 2012 11:34:22 AM

that's a lot of money. I expect their profits will more than make up for the expense.
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JoeKR
Champion Author New Jersey

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Message Posted: Dec 6, 2012 11:32:48 AM

I guess Big Oil is still profitable - remember this when in a year or two Chevron is crying poor because their profit percentage has fallen.
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bobsalwaysmt
Champion Author Long Island

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Message Posted: Dec 6, 2012 11:32:40 AM

and their profit will be how much more?
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marion1739
Champion Author Missouri

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Message Posted: Dec 6, 2012 11:24:21 AM

Costs money to make money. Most people forget that and just see the profit side
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Goatroper47
Champion Author Twin Cities

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Message Posted: Dec 6, 2012 11:23:55 AM

Good for them. But obummer will not let them drill if they find oil.
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bicycler
Champion Author Ontario

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Message Posted: Dec 6, 2012 11:22:26 AM

MrLuigi: That would help a lot!
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atdinut
Champion Author California

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Message Posted: Dec 6, 2012 11:20:18 AM

Chevron still says it is environmentally minded!?!?
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Don20
Champion Author Oklahoma City

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Message Posted: Dec 6, 2012 11:20:07 AM

Chevron Corp. plans to spend $36.7 billion in 2013 on energy exploration and investments, including $3.3 billion of planned expenditures by affiliates, the oil giant said Wednesday.

$36.7 billion in one year, and this only exploration. There is no guarantee that they will find oil. But with their experience they probably will...
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blazerbob91
Champion Author Milwaukee

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Message Posted: Dec 6, 2012 11:18:58 AM

A step to energy independance
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VernonOR
Champion Author Oregon

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Message Posted: Dec 6, 2012 11:18:28 AM

They would only spent this kind of money because they are expecting big profits.
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divebomber
Champion Author Nebraska

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Message Posted: Dec 6, 2012 11:18:05 AM

WE'LL SEEEEEEEEEEEEEEE...................!
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rawdog1313
Champion Author Lexington

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Message Posted: Dec 6, 2012 11:17:03 AM

Regulate Oil Speculation!
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MrLuigi
Champion Author Massachusetts

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Message Posted: Dec 6, 2012 11:13:23 AM

build some refineries!
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MINERMANIAC
Sophomore Author Houston

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Message Posted: Dec 6, 2012 11:12:10 AM

Hooray! for profits!! That's what we all want!!!!
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Bigtex09
Champion Author Dallas

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Message Posted: Dec 6, 2012 11:10:31 AM

congrats
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bouncing4fun
All-Star Author Sacramento

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Message Posted: Dec 6, 2012 11:09:42 AM

Obviously they are making a large profit on the gas they sell.
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chyguy3
Champion Author Wyoming

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Message Posted: Dec 6, 2012 11:09:17 AM

Well good for somebody, I guess.
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ggg452
Champion Author Manitoba

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Message Posted: Dec 6, 2012 11:08:47 AM

There certainly is money out there.
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trekmanKY
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Message Posted: Dec 6, 2012 11:07:33 AM

More jobs then?
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