Chevron Announces 2025 Capex Budget & 4Q24 Interim Updates

Sabrina Ionescu is joining Unrivaled as the new 3-on-3 league's final player

Sierra Vista Junior High School is hosting a virtual toy drive until Dec. 13 to help students and families in need. Julia Murray, a social work intern and wellness coordinator, said that Sierra Vista is known as a tier one school, meaning it has a large student population in need. “A lot of the families that are in need don’t have reliable housing or transportation. A lot of our families aren’t actually going to have big holiday get togethers or gifts so we’re trying to give some of the families that are in need just a little extra help by giving them some support through gifts for their children,” said Murray. The toy drive is connected to an Amazon Wishlist to streamline donations and make it accessible to everyone. The wish list features board games, makeup, toys, and sports equipment that Amanda Markovich, school social worker, believed would be useful for a whole family and not just one student. On Dec. 13 the toy drive will conclude to allow time for the orders to be shipped to the school, said Murray. On Dec. 20, invited families will be able to go to school and select which gifts they would like to take. “The social worker will invite the families, and they get to pick an item for their kid as long as we get enough donations so there are plenty of options,” said Murray. The goal of the toy drive is to help as many students as possible, but it is limited to how many donations the school receives, she added. To donate to the toy drive, visit: tinyurl.com/32sthvrn.Argentina: A Phoenix Rises

170,000sq m GLA to be ready in Qatar’s office segment before year-end, says ValuStrat report

Manitoba impaired-driving bill introduced as tensions rise at the legislatureThe are set to be without kicker for their game against the . That said, it seems like the eight-year veteran will soon be back in action as the chase an unprecedented Super Bowl three-peat. Butker was placed on IR ahead of the Chiefs' with the because of a calf injury. He is eligible to return from the injury list after four games, but will he play in against the ? Here's the latest on Butker's injury and what to know about his status moving forward. Andy Reid provided an update about Butker during a news conference on Wednesday. He said that Butker is "potentially" on target to return in , but wouldn't commit to the veteran kicker doing so just yet. "We'll see how he does in the next week or two," Reid said, per . The Chiefs haven't yet provided a clear timetable on Butker's potential return to action. Reid said Butker could "potentially" return in , but the Chiefs want to see how healthy he is before making a decision. Kansas City may also be happy to wait and see where it is in the AFC standings before choosing to activate Butker. The Chiefs enter with an 11-1 record and are playing the Chargers, their main competition in the AFC West. If the Chiefs beat the Chargers, they will have a stranglehold on the division. That will give them the leeway needed to ease Butker back into action and prepare him for another postseason run. Kansas City will have 21 days to return Butker to the 53-man roster once it does designate him to return from IR. So, while he could kick as early as Week 15, the Chiefs may be willing to let him sit until he is as close to 100% as possible. The Chiefs are relying on journeyman as their kicker at present. The 28-year-old has made 47-of-55 career field goals and has gone 4-of-5 for the Chiefs this season. Kansas City initially signed to replace Butker, but Shrader suffered a right hamstring injury that landed him on IR ahead of Week 12. The Chiefs will likely entrust Wright, who also served as an injury fill-in for Butker last season, as their kicker while both Butker and Shrader are unavailable.

The internet is rife with fake reviews. Will AI make it worse?

Japan, China seek broader bilateral talks to improve public sentimentMoni scores 25 in North Dakota State's 91-62 win against Wisconsin-Stout

Johnson Controls prices senior notes offeringThe U.S. stock indices failed to set any new record closes today, following yesterday's historic highs for the Dow, S&P 500, and Nasdaq. All three major indices ended the day lower, with the sharpest decline seen in the small-cap Russell 2000, which fell 1.25%. The Russell 2000 continues to seek a new record close, a milestone it hasn’t reached since November 2021. To achieve this, it needs to surpass 2442.74. Notably, on November 25, the index came within 0.73 points of that record but fell short. Last Friday, it rallied to 2434.72 but retreated before the session ended. The final numbers for the major indices shows: Dow Industrial Average -248.33 points or -0.55% at 44765.71 S&P -11.38 points were -0.19% at 6075.11 Nasdaq index -34.86 points or -0.18% at 19700.26 Russell 2000 -30.39 points or -1.25% at 2396.16 Below are some of the big winners today: American Airlines (AAL): +16.87% Roblox (RBLX): +8.07% GameStop Corp (GME): +5.92% Papa John's (PZZA): +4.39% Stellantis NV (STLA): +4.01% Tesla (TSLA): +3.23% United Airlines Holdings (UAL): +3.21% Rivian Automotive (RIVN): +3.18% Moderna (MRNA): +3.15% Palantir (PLTR): +2.89% Deutsche Bank AG (DB): +2.66% Delta Air Lines (DAL): +2.35% Merck & Co (MRK): +2.15% Chipotle Mexican Grill (CMG): +2.11% Below are some of the big losers today Uber Tech (UBER): -9.58% Chewy (CHWY): -7.19% Aspen Aerogels Inc (ASPN): -5.99% Intel (INTC): -5.47% Trump Media & Technology Group (DJT): -4.42% SoFi Technologies (SOFI): -4.29% Lam Research (LRCX): -3.90% Celsius (CELH): -3.73% Snap (SNAP): -3.68% Beyond Meat (BYND): -3.64% ARK Genomic Revolution (ARKG): -3.56% Goodrx (GDRX): -3.35% Block (SQ): -3.05% Ford Motor (F): -2.38% Robinhood Markets (HOOD): -2.70% Arm (ARM): -2.42%AP News Summary at 5:52 p.m. EST

How major US stock indexes fared Friday, 12/13/2024DALLAS — and became the most profitable U.S. airlines by targeting premium customers while also winning back a significant share of travelers on a tight budget. That is squeezing smaller low-fare carriers like , which recently protection. Some travel-industry experts think Spirit’s troubles indicate that travelers on a budget will be left with fewer choices and higher prices. Other discount airlines are on much better financial footing than Spirit, but they too are lagging far behind the full-service airlines when it comes to recovering from . Most industry experts think and other so-called ultra-low-cost carriers will fill the vacuum , and that there is still plenty of competition to prevent prices from spiking. Spirit Airlines lost more than $2.2 billion since the start of 2020. Frontier has not reported a full-year profit since 2019, though that slump might end this year. is still profitable, but less so than before the pandemic. Those kind of numbers led to declare recently that low-cost carriers were using “a fundamentally flawed business model” and customers hate flying on them. Kirby’s touchdown dance might turn out to be premature, but many analysts are wary about the near-term prospects for budget airlines, which charge cheaper fares but more fees than the big airlines. A traveler speaks with a Spirit Airlines agent May 24 at Hartsfield-Jackson Atlanta International Airport ahead of Memorial Day in Atlanta. Low-cost airlines grew in the last two decades by undercutting big carriers on ticket prices, thanks in large part to lower costs, including hiring younger workers who were paid less than their counterparts at Delta Air Lines, United and . Wages soared across the industry in the past two years, however, narrowing that cost advantage. The big airlines rolled out and refined their no-frills, “basic economy” tickets to compete directly with Spirit, Frontier and other budget carriers for the most price-sensitive travelers. The budget airlines became less efficient at using planes and people. As their growth slowed, they wound up with more of both than they needed. In 2019, Spirit planes were in the air an average of 12.3 hours every day. By this summer, the planes spent an average of two more hours each day sitting on the ground, where they don't make money. Spirit's costs per mile jumped 32% between 2019 and 2023. Another issue is that airlines added too many flights. Budget airlines and were among the worst offenders, but full-service airlines piled on. To make up for a drop in business travel, the big carriers added more flights on domestic leisure routes. The result: Too many seats on flights into popular tourist destinations such as Florida and Las Vegas, which drove down prices, especially for economy-class tickets. Rows of seats are shown Sept. 26 on a retrofitted Southwest Airlines jet at Love Field in Dallas. Low-cost airlines are responding by following the old adage that if you can't beat them, join them. That means going premium, following the rapidly growing household wealth among upper-income people. The top one-fifth of U.S. households by income added $35 trillion in wealth since 2019 and holds nearly nine times the wealth of the middle fifth, according to the . Frontier Airlines into four bundles in May, with buyers of higher-priced tickets getting extras such as priority boarding, more legroom and checked bags. The airline dropped ticket-change or cancellation fees except for the cheapest bundle. in August with similar changes, blocking middle seats and charging passengers more for the comfort of aisle and window seats. Spirit Airlines CEO Ted Christie received a $3.8 million retention bonus a week before the Florida-based carrier filed for Chapter 11 bankruptcy. Christie will retain the bonus if he remains with the company for another year. The airline's stock has dropped over 90% this year. It has faced challenges including a blocked $3.8 billion merger with JetBlue and failed talks with Frontier. The pandemic disrupted Spirit's operations and travel patterns, reducing its daily aircraft utilization and increasing costs. Demand has shifted to full-service airlines as higher-income travelers vacation more, while inflation impacts lower-income consumers. , which began flying more than 20 years ago as a low-cost carrier but with amenities, is digging out from years of steady losses. Under new CEO Joanna Geraghty, the first woman to lead a major U.S. airline, JetBlue is cutting unprofitable routes, bolstering core markets that include the Northeast and Florida, and delaying deliveries of $3 billion worth of new planes. Starting next year, Southwest Airlines will toss out a half-century — passengers picking their own seat after boarding the plane. Executives say extensive surveying showed 80% of customers preferred an assigned seat, and that's especially true with coveted business travelers. More crowded planes also might be pushing passengers to spend more to escape a middle seat in the back of the plane. A Frontier Airlines jet takes off July 5, 2022, from Denver International Airport in Denver. In other parts of the world, budget carriers are doing just fine. They bounced back from the pandemic just like their more highbrow competitors. Some industry experts say low-cost carriers in Asia and Europe have always attracted a more diverse mix of passengers, while in the U.S., affluent and middle-class travelers look down their noses at low-cost carriers. Jamie Baker, an analyst for JPMorgan, says he has many college friends who work in London and all the time, but he hardly knows anyone who has ever been on a Spirit or Frontier plane. A small plane tows a banner April 13, 2016, over Flint Bishop International Airport as part of ceremonies marking Allegiant Air joining the airport. is less dismissive of the “lower-end carriers” in the U.S. than United's Kirby. "I don’t see that segment ever disappearing,” Bastian said after Spirit’s bankruptcy filing. “I think there’s a market for it.” At the same time, he said the upscale moves by ultra-low-cost carriers are having no effect on his airline. Delta targets upscale travelers but also introduced basic-economy fares a decade ago, when discounters emerged as a growing threat to poach some of Delta's customers. “Just calling yourself a premium carrier and actually being a premium carrier are two totally different things,” Bastian said “It's not the size of the seat or how much room you have; it's the overall experience.” As frequent flyers know, air travel isn't cheap. With the summer months in full swing, demand for air travel is expected to reach in 2024 as airlines continue to recover after the COVID-19 pandemic. Luckily for those who are looking for ways to , one way to cut costs on your next vacation may be in finding the right places to fly in and out of. looked at average domestic airfares from the 45 busiest airports in the U.S. to learn which airports are best for travelers on a budget, as well as which ones to avoid if you are trying to travel affordably. Overall, the national average airfare cost decreased by 3.1% from 2022 to 2023 when adjusted for inflation (which translates to a 0.9% increase in non-adjusted dollars). The last time inflation-adjusted airfare costs dropped year-over-year was during the start of the COVID-19 pandemic, when it fell 18% between 2019 and 2020. Largely, this is good news for consumers who can spend less on airfare and have more room in their budget for , restaurants, and other travel fees. In addition to earning rewards on airfare, most offer rewards for spending in these areas, which can offset overall vacation costs. Based on Bureau of Transportation Statistics, the above chart shows inflation-adjusted average airline fares over the past 25 years. For this report, we compared domestic airfares from the 45 busiest airports in the U.S. using data published by the . Orlando International Airport (MCO) had the lowest airfare cost in the country at $265.58 on average. Home to iconic theme parks like Universal Studios, Sea World, and most notably, Walt Disney World, Orlando is one of America's top tourist destinations. This is welcome news for those bracing for expensive at the House of Mouse. Beyond on park-related purchases, visitors can also maximize savings by using a credit card like the which offers an annual travel credit, or even using a if you don't want to pay for your entire vacation at once. Another Florida-based airport, Fort Lauderdale-Hollywood International Airport (FLL), has the second-lowest average airfare cost in the country — tickets here are only about $5 more expensive than Orlando's. Just a few dollars behind FLL is Las Vegas's Harry Reid International (LAS), where fares cost $272.15 on average. LAS is also the last airport on our list where average airfare costs are less than $300. Oakland International Airport (OAK) has the fourth-lowest average airfare costs in the country at $303.79. And the fifth-least expensive airport, Chicago Midway International (MDW), comes in at $308.27. For the third year in a row, Dulles International Airport (IAD) and San Francisco International Airport (SFO) have the two highest average fares in the country. Flights from Dulles cost $488.40 on average in 2023, while flights from San Francisco cost $444.59. Some silver lining for travelers who need to travel through Dulles: IAD is home to some of the best airport lounges in the country, including the recently-opened Capital One Lounge, available to credit card holders. With free food, drinks, and recharging stations, lounges can be one easy way to offset otherwise-expensive airport costs. Salt Lake City International Airport (SLC) has the third-highest average airfare in the country, with an average cost of $438.34. Last on our top-five list of the most expensive airports are Charlotte Douglas International Airport (CLT) and Detroit Metro Airport (DTW). Average airfare from Charlotte cost $436.80 last year, while flights from Detroit had an average price tag of $427.05. Seattle-Tacoma International Airport (SEA) was the biggest affordability winner over the last year, dropping prices by more than $18 on average. SEA jumped from 36th most-affordable place last year to 28th place this year — an increase of eight spots. Raleigh-Durham International Airport (RDU) and Portland International Airport (PDX) experienced similar jumps, rising by seven spots each. RDU went from 24th place in 2022 to 17th in 2023, while PDX went from 42nd to 35th. Two different airports fell by eight spots in our affordability rankings, tied for the biggest drop of the year. The average fare at Sacramento International Airport (SMF) rose by $18.66 year-over-year, which led SMF to go from 18th in last year's affordability rankings to 26th this year. Prices rose even more at St. Louis Lambert International Airport (STL), going up by $19.64 on average from one year to the next. Consequently, STL fell from 21st to 29th place in terms of affordability. As you plan your travel, you'll find costs can vary widely at a single airport. With a little research and smart planning, you can find a deal at any airport. Here are a few tips to save on airfare: We looked at 2023 airfare data released by the U.S. Department of Transportation in May 2024 to compare domestic airfares by origin city. This report calculated average fares based on domestic itinerary fares. "Itinerary fares" consist of round-trip fares, unless only a one-way ticket was purchased. In that case, the one-way fare was used. Fares are based on total ticket value, including the price charged by the airline plus any additional taxes and fees levied at the time of purchase. Fares include only the price paid at booking and do not include fees for optional services like baggage fees. Averages also do not include frequent-flyer or "zero fares" or a few abnormally high reported fares. Receive the latest in local entertainment news in your inbox weekly!

NEW YORK (AP) — President-elect wants to turn the lights out on daylight saving time. In a post on his social media site Friday, Trump said his party would try to end the practice when he returns to office. “The Republican Party will use its best efforts to eliminate Daylight Saving Time, which has a small but strong constituency, but shouldn’t! Daylight Saving Time is inconvenient, and very costly to our Nation,” he wrote. Setting clocks forward one hour in the spring and back an hour in the fall is intended to maximize daylight during summer months, but has long been subject to scrutiny. Daylight saving time was first adopted as a wartime measure in 1942. Lawmakers have occasionally proposed getting rid of the time change altogether. The most prominent recent attempt, a now-stalled bipartisan bill named the , had proposed making daylight saving time permanent. The measure was , whom Trump has tapped to helm the State Department. “Changing the clock twice a year is outdated and unnecessary,” Republican Sen. Rick Scott of Florida said as the Senate voted in favor of the measure. Health experts have said that lawmakers have it backward and that standard time should be made permanent. , including the American Medical Association and American Academy of Sleep Medicine, have said that it’s time to do away with time switches and that sticking with standard time aligns better with the sun — and human biology. do not observe daylight saving time. For those that do, the date that clocks are changed varies, creating a complicated tapestry of changing time differences. Arizona and Hawaii don't change their clocks at all.TD Bank Group said Thursday (Dec. 5) that for the coming fiscal year, “it will be challenging for the Bank to generate earnings growth,” as it continues to work on its anti-money laundering (AML) remediation and invest in its business. The bank said this in an earnings release in which it reported that during its fourth quarter, which ended Oct. 31, the reported net income of its Canadian banking business rose 9% year over year, while that of its U.S. banking business fell 32%. “I remain confident in the earnings growth potential of our Canadian personal and commercial banking, wealth management, insurance and wholesale banking segments,” Chief Operating Officer Raymond Chun said Thursday during the bank’s quarterly earnings call. “And while we expect that the U.S. balance sheet restructuring and AML remediation will impact the U.S. retail segment, we remain committed to the U.S. market and confident in the strength of our franchise.” Several U.S. regulators and authorities announced Oct. 10 that TD Bank Group and some of its U.S. subsidiaries consented to orders and entered into plea agreements related to previously disclosed investigations of its Bank Secrecy Act (BSA) and anti-money laundering (AML) programs. The bank said on the same day that it takes full responsibility for the failures of its U.S. BSA and AML compliance programs and will work to remediate them. In a presentation released Thursday in conjunction with its earnings call, TD Bank Group said it has overhauled its U.S. BSA/AML program leadership and talent, strengthened its oversight structure and accountability, introduced new standards for policy and risk assessment, enhanced its process and control, and deployed new data-driven technology solutions and the first phases of an enhanced transaction monitoring platform. The AML remediation will be a multi-year process, Bharat Masrani , group president and CEO of TD Bank Group, said during the earnings call. “We expect to have the majority of the management remediation actions implemented by the end of calendar 2025, with additional management actions planned for calendar 2026,” Masrani said. “Remediation actions will then be subject to internal challenge and validation, including sustainability and testing activities, which are planned for calendar 2027, followed by review and acceptance by the monitorship. We will then work with our regulators to demonstrate the sustainability of our remediation actions.” For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter .

Former Egypt international Haytham Farouk has claimed that Mohamed Salah has signed a new contract with Liverpool . Salah's current deal with the Reds expires at the end of the season, making him a free agent. The superstar attacker revealed two weeks ago that club chiefs had yet to offer him new terms . He has starred for Arne Slot's side since those comments, notching an assist and scoring a penalty against Manchester City before adding another assist and two more goals in the thrilling draw with Newcastle . That has led to many calling for Liverpool to give Salah whatever he is demanding for a new contract. Jamie Carragher even U-turned on his stance over those negotiations on Wednesday night. It appears the club may have listened, with Farouk congratulating Salah on signing a new deal. He shared an old photo of himself with Salah and hinted the Reds have caved to Salah's demands. Farouk wrote on Twitter : "Congratulations on renewing your contract with the number you like and the period you want. The Egyptian king rules with his own judgments." The former defender is also a popular analyst on beIN Sports, and has a connection with Salah. Farouk's post was published on 4 December, the same day that Liverpool drew 3-3 with Newcastle . HAVE YOUR SAY! How should Liverpool line up against Everton? Comment below . Salah's double in that game took him to 13 Premier League goals this season, firing the Reds to top spot. Following the draw, boss Slot hinted that he expected Salah to remain at Anfield for some time to come. "We are hoping and expecting he can continue this for a long time," Slot said. "He was outstanding in the second half, he did many special things for us. "I have seen many games of last season but it is always difficult to judge a player if you are not there. What I did most was [look at] style of play and team performance and not that much the individual performance. "What I noticed from the start, when he came in [in preseason was] how fit he was, how ready he was to make it a very good season for him. That he led by example from the first day onwards in preseason where so many of his teammates who he usually plays with. "So the international players, were not there and to still be able to work that hard, he did, and train so hard: yeah, and then we all saw the quality in the training sessions. So it's not a surprising thing for me that he's done so well until now." Join our new WhatsApp community and receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice. Sky has slashed the price of its Sky Sports, Sky Stream, Sky TV and Netflix bundle in an unbeatable new deal that saves £240 and includes 1,400 live matches across the Premier League, EFL and more.

SAN FRANCISCO--(BUSINESS WIRE)--Dec 5, 2024-- Samsara Inc. ("Samsara") (NYSE: IOT), the pioneer of the Connected Operations ® Cloud, today revealed strong growth in its new frontiers as the company experiences high global demand for its innovative solutions that increase safety, efficiency, and sustainability. Samsara’s at-scale breadth across products, customer sizes, end markets, and geographies is a key differentiator and driver of performance. Highlights include: Driving Innovation with Customer-Centric Solutions Samsara now processes more than 10 trillion data points annually. This unique view into the world of physical operations powers Samsara’s innovation flywheel and enables customers to address complex challenges. In the second half of FY25, Samsara rapidly delivered features tailored to both universal and regional needs. Highlights include: "Our customers are the backbone of the global economy and we partner with them to solve the hardest problems in the industry,” said Kiren Sekar, Chief Product Officer at Samsara. “We’re planning to invest hundreds of millions of dollars in R&D over the next few years, leaning into advanced AI and our massive data set to create products that answer the needs of the world’s largest and most complex operational companies.” Samsara’s Multi-Product Platform Powers Customer Growth Samsara’s product innovation has resulted in more than 150 patents and is fueling new multi-product adoption amongst its customers. New multi-product customers in Q3 include organizations like Florida Department of Fish & Wildlife and Fresno County. Existing customers such as Fraikin Group and Comfort Systems expanded with Samsara because of its clear and fast return on investment . For example, Fraikin, one of Samsara’s largest customers in Europe, is in the process of expanding Samsara to 10,000+ vehicles and all new vehicles in its 60,000-vehicle fleet across its European operations. “Digital transformation and decarbonization are central to our strategy, and Samsara has played a crucial role in helping us build a standardized, future-proofed, and innovative platform,” said Edward Breedveld, Chief Digital Officer at Fraikin. “With this technology, we are greatly expanding our real-time data insights to optimize operations, minimize environmental impact, and ensure our vehicles meet the highest safety standards.” To learn more about Samsara’s Q3 FY25 results, click here . About Samsara Samsara (NYSE: IOT) is the pioneer of the Connected Operations ® Cloud, which is a platform that enables organizations that depend on physical operations to harness Internet of Things (IoT) data to develop actionable insights and improve their operations. With tens of thousands of customers across North America and Europe, Samsara is a proud technology partner to the people who keep our global economy running, including the world’s leading organizations across construction, transportation and warehousing, field services, manufacturing, retail, logistics, and the public sector. The company's mission is to increase the safety, efficiency, and sustainability of the operations that power the global economy. Samsara is a registered trademark of Samsara Inc. All other brand names, product names or trademarks belong to their respective holders. View source version on businesswire.com : https://www.businesswire.com/news/home/20241205068347/en/ CONTACT: Adam Simons Samsara media@samsara.com KEYWORD: CALIFORNIA MEXICO UNITED STATES CANADA CENTRAL AMERICA NORTH AMERICA EUROPE INDUSTRY KEYWORD: VEHICLE TECHNOLOGY AUTOMOTIVE IOT (INTERNET OF THINGS) TECHNOLOGY SOFTWARE ARTIFICIAL INTELLIGENCE SOURCE: Samsara Copyright Business Wire 2024. PUB: 12/05/2024 04:15 PM/DISC: 12/05/2024 04:15 PM http://www.businesswire.com/news/home/20241205068347/enMumbai: 38 Shiv Sena Members Acquitted In 2005 Mob Attack Case

Ariana Grande’s Boyfriend Calls Cynthia Erivo Her Soul MateSAN RAMON, Calif.--(BUSINESS WIRE)--Dec 5, 2024-- Chevron Corporation today announced an organic capital expenditure range of $14.5 to $15.5 billion for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) range of $1.7 to $2.0 billion for 2025. The company’s 2025 capex and affiliate capex budgets represent a $2 billion year-over-year reduction. "The 2025 capital budget along with our announced structural cost reductions demonstrate our commitment to cost and capital discipline," said Chevron Chairman and CEO Mike Wirth. "We continue to invest in high-return, lower-carbon projects that position the company to deliver free cash flow growth." Capex Upstream spending is expected to be about $13 billion, of which roughly two-thirds is allocated to develop Chevron’s U.S. portfolio. Permian Basin spend is lower than the 2024 budget and anticipated to be between $4.5 and $5.0 billion as production growth is reduced in favor of free cash flow. The remaining U.S. investment is split between the DJ Basin and the Gulf of Mexico, where deepwater growth projects continue to ramp and are expected to deliver offshore production of 300 mboed in 2026. In International, about $1.0 billion is allocated to Australia, which include Gorgon backfill investments. Downstream capex is expected to be approximately $1.2 billion, with two-thirds allocated to the U.S. Within total upstream and downstream budgets, about $1.5 billion of capex is dedicated to lowering the carbon intensity of our operations and growing New Energies businesses. Corporate and other capex is expected to be around $0.7 billion. Affiliate Capex Tengizchevroil LLP’s budget is less than half of the affiliate capex as the Future Growth Project is projected to achieve first oil in the first half of 2025. The remaining affiliate spend primarily supports Chevron Phillips Chemical Company LLC, which includes the Golden Triangle Polymers and Ras Laffan Petrochemical Projects. 4Q24 Interim Update In connection with recently announced plans to achieve $2 to $3 billion in structural cost reductions by the end of 2026, the Company expects to recognize a restructuring charge of $0.7 to $0.9 billion after-tax in the fourth quarter, with associated cash outflows over the next two years. The Company also anticipates recognizing non-cash, after-tax charges related to impairments, asset sales, and other obligations of $0.4 to $0.6 billion in the fourth quarter. The Company expects to treat these as special items and exclude them from adjusted earnings. It is possible that the financial impact of these items may differ from the estimates provided, including differences due to final accounting determinations, changes in facts, circumstances or assumptions or other developments in the interim. Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of our operations and grow lower carbon businesses in renewable fuels, carbon capture and offsets, hydrogen and other emerging technologies. More information about Chevron is available at www.chevron.com . NOTICE As used in this news release, the term “Chevron” and such terms as “the company,” “the corporation,” “our,” “we,” “us” and “its” may refer to Chevron Corporation, one or more of its consolidated subsidiaries, or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of any of the separate companies, each of which manages its own affairs. Structural cost reductions describe decreases in operating expenses from operational efficiencies, divestments, and other cost saving measures that are expected to be sustainable compared with 2024 levels. Please visit Chevron’s website and Investor Relations page at www.chevron.com and www.chevron.com/ investors, LinkedIn: www.linkedin.com/company/chevron , X: @Chevron, Facebook: www.facebook.com/ chevron, and Instagram: www.instagram.com/chevron , where Chevron often discloses important information about the company, its business, and its results of operations. CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 This news release contains forward-looking statements relating to Chevron’s operations and lower carbon strategy that are based on management’s current expectations, estimates, and projections about the petroleum, chemicals, and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “progress,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions, and variations or negatives of these words, are intended to identify such forward-looking statements, but not all forward-looking statements include such words. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic, market and political conditions, including the military conflict between Russia and Ukraine, the conflict in Israel and the global response to these hostilities; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings and efficiencies associated with enterprise structural cost reduction initiatives; the potential for gains and losses from asset dispositions or impairments; the possibility that future charges related to enterprise structural cost reduction initiatives, impairments and other obligations may be greater or different than anticipated, including as a result of unexpected or changed facts, circumstances and assumptions; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures related to greenhouse gas emissions and climate change; the potential liability resulting from pending or future litigation; the risk that regulatory approvals and clearances related to the Hess Corporation (Hess) transaction are not obtained or are obtained subject to conditions that are not anticipated by the company and Hess; potential delays in consummating the Hess transaction, including as a result of the ongoing arbitration proceedings regarding preemptive rights in the Stabroek Block joint operating agreement; risks that such ongoing arbitration is not satisfactorily resolved and the potential transaction fails to be consummated; uncertainties as to whether the potential transaction, if consummated, will achieve its anticipated economic benefits, including as a result of risks associated with third party contracts containing material consent, anti-assignment, transfer or other provisions that may be related to the potential transaction that are not waived or otherwise satisfactorily resolved; the company’s ability to integrate Hess’ operations in a successful manner and in the expected time period; the possibility that any of the anticipated benefits and projected synergies of the potential transaction will not be realized or will not be realized within the expected time period; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; higher inflation and related impacts; material reductions in corporate liquidity and access to debt markets; changes to the company’s capital allocation strategies; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 20 through 26 of the company’s 2023 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this report could also have material adverse effects on forward-looking statements. View source version on businesswire.com : https://www.businesswire.com/news/home/20241205712836/en/ Randy Stuart -- +1 713-283-8609 KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: OIL/GAS ENERGY SOURCE: Chevron Corporation Copyright Business Wire 2024. PUB: 12/05/2024 04:15 PM/DISC: 12/05/2024 04:17 PM http://www.businesswire.com/news/home/20241205712836/en