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a lot of those new builds got pushed out because of the pandemic and the lack of revenue in the extremely negative and poor refining margins.
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2022 Q2
2 Aug 22
3 million barrels a day of refining capacity has come out of the circuit since the pandemic.
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2022 Q2
2 Aug 22
But frankly, given the tightness in the market, the availability of rigs, there's not a whole lot of opportunity to move there.
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2022 Q2
2 Aug 22
if you look at our tight oil production in the U.S. versus 2017, we expect to end 2022 at 3x the level of production.
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2022 Q2
2 Aug 22
Our breakeven came down to $41 a barrel from $44 kind of last year.
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2022 Q2
2 Aug 22
all the actions we're taking in the business reduce our breakevens
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2022 Q2
2 Aug 22
last quarter, we tripled the size of our share repurchase plan, which is now up to $30 billion of share repurchases this year and next.
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2022 Q2
2 Aug 22
bringing more LNG supplies to help offset some of the Russian gas going into Europe
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2022 Q2
2 Aug 22
We've got the Golden Pass project here in the U.S., which will allow us to export LNG from the U.S. into Europe.
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2022 Q2
2 Aug 22
Our Golden Pass LNG project, which will provide 18 million tons per year of new LNG supplies, remains on schedule to start up in 2024.
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2022 Q2
2 Aug 22
Our U.S. Gulf Coast refining capacity is poised to increase by about 250,000 barrels per day with the start-up of the Beaumont refinery expansion project in the first quarter of 2023. Two new LNG projects are also advancing.
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2022 Q2
2 Aug 22
CapEx was $4.6 billion
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2022 Q2
2 Aug 22
full year CapEx guidance of $21 billion to $24 billion.
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2022 Q2
2 Aug 22
We leaned in when others leaned out, including investments in U.S. refining capacity, notably with our Beaumont refinery expansion.
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2022 Q2
2 Aug 22
We clearly see the tightness in supply in refining, where the closure rate during the pandemic was 3x the rate of the 2008 financial crisis.
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2022 Q2
2 Aug 22
Refining margins are even more pronounced versus the 10-year range.
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2022 Q2
2 Aug 22
advancing a significant refining capacity expansion on the U.S. Gulf Coast
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2022 Q2
2 Aug 22
Natural gas began flowing at the Coral LNG project offshore Mozambique.
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2022 Q2
1 Aug 22
we also announced 2 discoveries in Guyana, adding to the estimated recoverable resource base, which is nearly 11 billion barrels.
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2022 Q2
1 Aug 22
we're on pace to increase our refining capacity on the U.S. Gulf Coast by more than 17% or 250,000 barrels per day in the first quarter of 2023.
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2022 Q2
1 Aug 22