US majors ExxonMobil and Chevron both this week updated on their capital spending plans for 2022 and beyond.

Chevron says that it plans to spend $15.3bn for 2022, at the bottom end of the $15-17bn/year 2022-25 range given alongside the firm’s Q3 results on 29 October (though this in turn represented an increase from the prior $15bn/year 2022-25 guidance). Exxon says it plans to hold capex steady at $20-25bn for 2022 to 2027, extending by two years the figure for 2022-25 announced early this year (MEES, 5 February). (CONTINUED - 772 WORDS)