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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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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. Approximately 87% of the 2012 spending program is budgeted for upstream crude oil and natural gas exploration and production projects.

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