Chevron

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UPDATE: Chevron '10 Capex To Focus On Exploration, Production

Nasdaq - Thu Dec 10, 11:17 am ET

(Adds analyst comments and background throughout.) HOUSTON -(Dow Jones)- Chevron Corp. (CVX) said Thursday its 2010 capital budget will be $21.6 billion, 5% lower than its 2009 budget, as it focuses on exploration and development of oil and natural gas at the expense of refining.

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