*US majors ExxonMobil and Chevron both revealed their 2023 capital plans this week. Both indicated expected spending at the top end of previously-indicated ranges.
*Exxon revealed on 8 December that it plans to spend $23-25bn for 2023 versus a previous $20-25bn range, up from “about $22bn” for 2022. Whilst reiterating a $20-25bn annual capex range out to 2027, Exxon said the high-end 2023 outlay was justified as “we continue to fund accretive energy and other product growth opportunities in an attractive market.” Additional 2023 cash will go on expediting development of the Payara project off Guyana and “increased spending in short-cycle US unconventional assets.” (CONTINUED - 671 WORDS)
