Energy Intel: global capex will rise 12% year on year. Non-OPEC growth will mostly be seen in the Guyana Basin, Brazil, the Gulf of Mexico, the North Sea and West Africa.
," Chairman and CEO Mike Wirth said.. has not announced a drastic increase in spending, but has said that its capital spending for 2023 will be closer to the top end of its annual target of $20B-$25B, a level it expects to maintain through 2027. Exxon says that more than 70% of its capital investments will be deployed in the U.S. Permian Basin, Guyana, Brazil and LNG projects across the globe. These investments will help increase the company's upstream production by 500K boe/day to 4.
" by 2027 compared to 2019, and also expects to deliver ~$9B in structural cost savings by year-end 2023 from 2019 levels.expects to spend C$4B-C$4.5B in FY 2023 , higher than estimates of C$3.3B-C$3.7B for 2022, including ~C$2.8B of sustaining capital for maintaining base production and support operations. Cenovus says it expects to direct C$1.2B-C$1.7B towards optimization and growth, including construction of the West White Rose project in Atlantic Canada.
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