FACTBOX-Oil companies cut capex after crude plunges
Feb 3 (Reuters) - Oil companies are slashing investment in the face of a $100 per barrel collapse in crude prices but, keen to avoid past mistakes and to gain from others' weakness, the very biggest players are holding spending steady. [ID:nLU766665]
Following is a summary of oil companies' capital expenditure (capex) plans for 2009 (most recent first):
BP PLC (BP.L)
Europe's second-largest oil company said on Feb. 3 it expected organic capex of $20-22 billion in 2009, compared with $21.7 billion in 2008. [ID:nL2123295]
ROYAL DUTCH SHELL PLC (RDSa.L)
The world's second-largest non-government controlled oil company by market capitalisation said on Jan. 29 it would lift capex to $31-32 billion, excluding acquisitions, in 2009, from $30 billion in 2008.
CHEVRON CORP (CVX.N)
The second-largest U.S. oil company said in late January its 2009 capital spending program will total $22.8 billion, the same as in 2008.
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