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Chevron sets aside $18.3B for 2018 capital projects

Chevron Corp. said Dec. 6 that it will set aside $18.3 billion for capital and exploratory spending in 2018.

The budgeted figure is about 4% less than that for 2017, according to a Reuters report, and was down for the fourth consecutive year.

Planned spending on upstream business was set at $15.8 billion, while $2.2 billion was reserved for downstream businesses. Of the total $18.3 billion, $5.5 billion will come from affiliated companies, resulting in net cash expenditure by Chevron of $12.8 billion.