CVX · 10-Q · 2026Q2 · Full report

Affiliate Capital Expenditures

CHEVRON CORP · 2026-08-06 · Importance 9 · Surprise 6

Affiliate capital expenditures declined by $372 million in the first six months of 2026 compared with the prior-year period. The decrease primarily resulted from lower spending at CPChem and TCO. Affiliate capex represents additions to assets in equity affiliates’ financial statements and does not require cash outlays by Chevron.

Key facts

• Affiliate capex in the first six months of 2026 was $372 million lower than the prior year primarily due to lower spend at CPChem and TCO. source
• Net repayment (borrowing) of loans by equity affiliates included a net inflow of $979 million in the first six months of 2026, compared with an outflow of $176 million in the year-ago period. source