Chevron Raises Exploration Spending By 50%

After years of focusing on growing exploration and production in the U.S. Gulf of Mexico and the Permian shale basin, U.S. oil and gas supermajor Chevron returns to high-impact frontier exploration as it seeks to renew its portfolio with diverse opportunities globally. Exploration in South America, Africa, and the Eastern Mediterranean is now a key focus of Chevron’s upstream business, which the company looks to turn around by adding reserves and production growth opportunities in Guyana, Angola, Namibia, Nigeria, Guinea-Bissau, Equatorial…