Shares of Chevron Corporation (CVX) gained 1.3% in Wednesday’s extended trading session after the company revealed its capital spending plans of about $15 billion, up 20% from 2021 levels. Also, the spending level is at the low end of its $15 billion to $17 billion guidance range. Chevron provides administrative, financial management and technology support for energy and chemical operations. (See Chevron stock charts on TipRanks) With this program, Chevron seeks to achieve higher returns and lower carbon, including about $800 million in lower carbon spending. The above-mentioned spending budget excludes an expected investment of $600 million for the formation of a renewable fuel feedstocks joint venture with Bunge.
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Chevron (NYSE:CVX)
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