Not Logged In Log In   Sign Up   Points Leaders
Follow Us    10:45 PM

GasBuddy News Article

35
votes
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


Read the Full Article

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
REPLIES (newest first) Post a Reply
ExplorerWA
Champion Author Washington

Posts:6,047
Points:1,470,515
Joined:Feb 2011
Message Posted: Dec 6, 2012 11:11:32 PM

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

Posts:9,538
Points:2,285,750
Joined:Jul 2008
Message Posted: Dec 6, 2012 10:55:44 PM

Oil biz is good...
DanMtz
Champion Author Oakland

Posts:6,603
Points:2,022,040
Joined:Oct 2009
Message Posted: Dec 6, 2012 6:58:17 PM

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

Posts:8,765
Points:2,287,205
Joined:Jul 2004
Message Posted: Dec 6, 2012 2:54:15 PM

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

Posts:13,062
Points:3,894,125
Joined:Apr 2003
Message Posted: Dec 6, 2012 2:03:39 PM

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

Posts:12,850
Points:2,670,045
Joined:Feb 2007
Message Posted: Dec 6, 2012 1:16:38 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
dieselfiendSC
Champion Author South Carolina

Posts:4,685
Points:1,585,245
Joined:Nov 2008
Message Posted: Dec 6, 2012 12:26:59 PM

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

Posts:7,234
Points:1,564,165
Joined:Mar 2011
Message Posted: Dec 6, 2012 12:14:25 PM

Nothing like growth.
Cellsite
Champion Author Appleton

Posts:3,873
Points:910,990
Joined:Jun 2012
Message Posted: Dec 6, 2012 11:08:53 AM

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

Posts:1,208
Points:1,009,685
Joined:Jan 2012
Message Posted: Dec 6, 2012 11:06:36 AM

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

Posts:6,020
Points:1,316,770
Joined:Sep 2011
Message Posted: Dec 6, 2012 11:06:27 AM

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
GRUMPY55
Champion Author California

Posts:3,149
Points:1,071,150
Joined:Oct 2011
Message Posted: Dec 6, 2012 11:03:49 AM

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

Posts:3,928
Points:1,388,470
Joined:Apr 2011
Message Posted: Dec 6, 2012 10:58:49 AM

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

Posts:5,714
Points:1,494,445
Joined:Sep 2008
Message Posted: Dec 6, 2012 10:56:56 AM

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

Posts:6,334
Points:1,865,285
Joined:Dec 2009
Message Posted: Dec 6, 2012 10:55:21 AM

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

Posts:10,114
Points:2,066,460
Joined:Sep 2009
Message Posted: Dec 6, 2012 10:54:56 AM

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

Posts:8,106
Points:1,493,805
Joined:Oct 2008
Message Posted: Dec 6, 2012 10:54:49 AM

Those dollars mean JOBS!
bra0712
Champion Author Arizona

Posts:5,760
Points:1,453,815
Joined:Nov 2008
Message Posted: Dec 6, 2012 10:53:28 AM

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

Posts:3,878
Points:835,380
Joined:Jun 2004
Message Posted: Dec 6, 2012 10:53:12 AM

And?
mikesr100
Champion Author Sacramento

Posts:7,138
Points:1,858,595
Joined:Apr 2008
Message Posted: Dec 6, 2012 10:52:35 AM

OK!
momof5MN
Champion Author Twin Cities

Posts:7,122
Points:377,550
Joined:Feb 2011
Message Posted: Dec 6, 2012 10:46:04 AM

No subsidies.
kuma2000
Champion Author Honolulu

Posts:6,774
Points:1,446,950
Joined:Jun 2011
Message Posted: Dec 6, 2012 10:45:50 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.
carpenter4u
Champion Author Virginia

Posts:3,623
Points:1,284,645
Joined:Jul 2011
Message Posted: Dec 6, 2012 10:44:22 AM

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

Posts:5,407
Points:1,484,240
Joined:Jan 2011
Message Posted: Dec 6, 2012 10:44:10 AM

It takes money to make money!
MRHONEST
Champion Author Illinois

Posts:2,841
Points:2,336,640
Joined:May 2007
Message Posted: Dec 6, 2012 10:43:43 AM

REALLY?
Wanda127
Champion Author Florida

Posts:5,604
Points:1,686,505
Joined:May 2010
Message Posted: Dec 6, 2012 10:43:11 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]
Yonkers111
Champion Author Scranton

Posts:8,344
Points:859,325
Joined:Apr 2007
Message Posted: Dec 6, 2012 10:43:09 AM

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

Posts:11,562
Points:2,662,770
Joined:May 2007
Message Posted: Dec 6, 2012 10:39:10 AM

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

Posts:3,332
Points:772,940
Joined:Jul 2011
Message Posted: Dec 6, 2012 10:38:54 AM

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

Posts:5,707
Points:1,146,235
Joined:May 2010
Message Posted: Dec 6, 2012 10:38:49 AM

Evil big oil.
georged12
Champion Author Michigan

Posts:1,978
Points:173,020
Joined:Jun 2012
Message Posted: Dec 6, 2012 10:36:35 AM

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

Posts:1,624
Points:368,360
Joined:Apr 2008
Message Posted: Dec 6, 2012 10:36:27 AM

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

Posts:4,690
Points:2,583,085
Joined:May 2004
Message Posted: Dec 6, 2012 10:34:22 AM

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

Posts:12,267
Points:2,134,665
Joined:Feb 2006
Message Posted: Dec 6, 2012 10:32:48 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.
bobsalwaysmt
Champion Author Long Island

Posts:6,033
Points:332,405
Joined:Oct 2007
Message Posted: Dec 6, 2012 10:32:40 AM

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

Posts:2,880
Points:983,935
Joined:Jan 2011
Message Posted: Dec 6, 2012 10:24:21 AM

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

Posts:4,281
Points:1,033,060
Joined:Jul 2012
Message Posted: Dec 6, 2012 10:23:55 AM

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

Posts:14,815
Points:2,598,445
Joined:May 2005
Message Posted: Dec 6, 2012 10:22:26 AM

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

Posts:1,617
Points:404,940
Joined:Apr 2012
Message Posted: Dec 6, 2012 10:20:18 AM

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

Posts:12,890
Points:3,382,935
Joined:Mar 2005
Message Posted: Dec 6, 2012 10:20:07 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...
blazerbob91
Champion Author Milwaukee

Posts:7,101
Points:2,605,660
Joined:Aug 2005
Message Posted: Dec 6, 2012 10:18:58 AM

A step to energy independance
VernonOR
Champion Author Oregon

Posts:5,924
Points:1,473,375
Joined:Aug 2010
Message Posted: Dec 6, 2012 10:18:28 AM

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

Posts:9,344
Points:2,589,295
Joined:Jun 2007
Message Posted: Dec 6, 2012 10:18:05 AM

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

Posts:4,878
Points:2,058,595
Joined:May 2008
Message Posted: Dec 6, 2012 10:17:03 AM

Regulate Oil Speculation!
MrLuigi
Champion Author Massachusetts

Posts:7,987
Points:1,737,915
Joined:Jun 2005
Message Posted: Dec 6, 2012 10:13:23 AM

build some refineries!
MINERMANIAC
Sophomore Author Houston

Posts:202
Points:121,900
Joined:Jun 2008
Message Posted: Dec 6, 2012 10:12:10 AM

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

Posts:6,625
Points:1,896,180
Joined:Oct 2009
Message Posted: Dec 6, 2012 10:10:31 AM

congrats
bouncing4fun
All-Star Author Sacramento

Posts:739
Points:288,760
Joined:Jun 2012
Message Posted: Dec 6, 2012 10:09:42 AM

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

Posts:2,855
Points:960,640
Joined:Sep 2006
Message Posted: Dec 6, 2012 10:09:17 AM

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

Posts:4,835
Points:1,109,445
Joined:May 2012
Message Posted: Dec 6, 2012 10:08:47 AM

There certainly is money out there.
trekmanKY
Champion Author Kentucky

Posts:4,185
Points:1,104,875
Joined:Mar 2012
Message Posted: Dec 6, 2012 10:07:33 AM

More jobs then?
Post a reply Back to Topics