December 8, 2016 / 12:37 AM / 8 months ago

BRIEF-Chevron announces $19.8 bln capital and exploratory budget for 2017

Dec 7 (Reuters) - Chevron Corp :

* Says 2017 budget represents a reduction of 42 percent from 2015 outlays

* Chevron announces $19.8 bln capital and exploratory budget for 2017

* Chevron Corp - combination of lower spending and growth in production revenues supports overall objective of becoming cash balanced in 2017

* Included in 2017 program are $4.7 billion of planned affiliate expenditures.

* Spending for 2017 targets shorter-cycle time, high-return investments and completing major projects under construction

* "over 70 percent of our planned upstream investment program is expected to generate production within two years" Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below