Chevron Announces $22.9 Billion Capital and Exploratory Budget for 2008

Chevron Corporation today announced a $22.9 billion capital and exploratory spending program for 2008, a 15 percent increase from estimated outlays of $20 billion in 2007. Included in the 2008 program are $2.6 billion of expenditures by affiliates, which do not require cash outlays by Chevron’s consolidated companies.