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Chevron to reduce its capex next year
Energy
- 08 December, 2016
- 13:08
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Baku. 8 December. REPORT.AZ/ Chevron (US) intends to sharply reduce its capex for 2017.
Report informs citing foreign media, capex for next year considered at 19 bln USD. Next year's costs represent a reduction of 42% from 2015 outlays and is expected to be at least 15% lower than projected 2016 capital investments. The budget for 2015 had been 35 billion USD and 26.6 billion USD for 2016.
Of the total 2017 budget, 17.3 billion USD will be spent on Upstream business, 2.2 billion will be spent on downstream.
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