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09/12/2022at 11:11

ExxonMobil, Chevron to increase spending on projects in 2023

The two US supermajors plan to increase spending on projects amid high demand and elevated prices. The move sparks criticism from US President Joe Biden.
Photo: Dado Ruvic/REUTERS / X02714
by maria oien, translated by christoffer østergaard

The two biggest US oil companies, ExxonMobil and Chevron, will increase spending on energy projects in coming years. Each is weighing billions more in funding over the course of 2023 than this year, reports Reuters.

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