US major Chevron announced a $32.7 billion capital spending budget for 2012, marking a 17% increase over the $28 billion it spent this year, excluding acquisitions. “Our capital program covers a number of multi-year projects currently in the construction phase, including two world-class Australian LNG projects [Gorgon and Wheatstone] and multiple deepwater developments,” company chairman and chief executive, John Watson, said in a statement.
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