Exxon and Chevron are betting big on oil and gas assets in the Americas as they seek to capitalize on abundant resources with good returns closer to home. Both U.S. supermajors have said in their releases about the 2023 capital budget allocation that they would focus on the Permian and a handful of oil and gas projects in North and South America. Over the past year, Exxon quit Russia after the Russian invasion of Ukraine, and Chevron saw its concession agreements in Indonesia and Thailand expire. In the past few years, Chevron has…
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