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Oil majors Exxon Mobil and Chevron also raised their capital allocation toward their lower carbon businesses.
Following is a list of companies and their budgets:
THE UNITED STATES
Company Market
Cap 2023 Budget 2022 Budget
Exxon Mobil Corp (NYSE:XOM) $426.83 billion $23 billion to $21 billion to
$25 billion $24 billion
Chevron Corp (NYSE:CVX) $333.59 billion $17 billion $15 billion
HF Sinclair Corp $10.27 billion $940 million to $740 million to
$1.15 billion $885 million
CANADA
Company 2023 2022 2023 2022
Market Cap Budget Budget Production Production
Forecast (boepd) Forecast (boped)
Canadian Natural (NYSE:CNQ) C$89.01 C$5.2 billion C$4.92 billion 1.33 million to 1.296 million
Resources Ltd billion 1.374 million
($65.54
billion)
Suncor Energy (NYSE:SU) Inc C$60.67 C$5.4 billion to C$4.9 billion to 740,000 to 740,000 to
billion C$5.8 billion C$5.2 billion 770,000 760,000
Cenovus Energy (NYSE:CVE) Inc C$38.85 C$4 billion to C$3.3 billion to 800,000 to 780,000 to
billion C$4.5 billion C$3.7 billion 840,000 810,000
($1 = 1.3580 Canadian dollars)
