Chevron's capital and exploratory expenditures by segment 2016-2022
Chevron invested 12.5 billion U.S. dollars in its upstream business segment in 2022. Capital expenditure in the downstream segment was only about a fifth of upstream investments, with the overall total also significantly higher compared to the previous years. Chevron is a California-based multinational oil and gas company and considered one of the Big Oil supermajors.
