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Re: DewDiligence post# 878

Wednesday, 12/07/2022 6:25:39 PM

Wednesday, December 07, 2022 6:25:39 PM

Post# of 908
CVX 2023 capex budget=$16.9B—$14.0B direct*+$2.9B indirect†:

The $14B* figure includes $11.5B for upstream operations ($8.0B US; $3.5B ex-US), of which $4B is for the Permian and $2B is for other US shale.

The $2.9B† figure includes about $1.5B for Tengiz and about $1.0B for the CVX/PSX chemicals venture.

*Includes all subsidiaries that CVX consolidates (majority owned).

†Amount paid by CVX toward its unconsolidated JVs.

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