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Chevron announces $32.7B capital and exploratory budget for 2012; LNG and deepwater investments propel a step change

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By 2017, we expect our net crude oil and natural gas production to grow about 20 percent to 3.3 Another 11% is associated with the company’s downstream businesses that manufacture, transport and sell gasoline, diesel fuel and other refined products, fuel and lubricant additives, and petrochemicals. million barrels per day.

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Total and partners launch $16B ultra-deep Kaombo project offshore Angola

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Total and its joint venture partners have made the final investment decision to develop the ultra-deep offshore Kaombo project in Angola. Following an intensive optimization exercise, the project’s capital expenditure to reach full capacity was reduced by $4 billion to $16 billion, with an expected start-up in 2017. Location of Kaombo.

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