Chevron sets 2018 capital budget at $18.3 billion

(Reuters) - Oil and gas major Chevron Corp (CVX.N) announced an $18.3 billion capital and exploratory budget on Wednesday.

FILE PHOTO - John Watson, Chevron's chairman and CEO, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 8, 2017. REUTERS/Brendan McDermid

The 2018 budget is “down for the fourth consecutive year,” Chief Executive John Watson said in a statement.

Reporting by Shalini Nagarajan in BengaluruEditing by Sandra Maler

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