Global chemical producing companies' capex reductions due to coronavirus impact 2020

Published by Statista Research Department, Mar 24, 2023

The global chemical sector is likely to experience an extended downturn alongside low oil prices seen in the beginning of 2020. Energy company Chevron, which also produces chemicals, has revised its 2020 capital expenditure allotment from 20 billion U.S. dollars to 16 billion U.S. dollars in light of the downturn of the global market in conjunction with low oil prices and the coronavirus crisis.
For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

Capital expenditure reductions of selected chemical producers worldwide in 2020 as a result of coronavirus impact (in billion U.S. dollars)

Characteristic	Capex 2020 original	Capex 2020 revised
Saudi Aramco*	40	30
Shell**	25	20
Chevron	20	16
Total***	18	15
Pembina Pipeline*****	2.3	1.4
Targa Resources	1.3	0.9
Eastman Chemical****	0.47	0.37

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Release date

March 2020

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Region

Worldwide

Survey time period

as of March 2020

Supplementary notes

*Saudi Aramco's original capex for 2020 was 35-40 billion U.S. dollars, and the revised capex for 2020 is now 25.30 billion U.S. dollars.
**Royal Dutch Shell's revised 2020 capex is 20 billion U.S. dollars or less.
***Total S.A.'s revised 2020 capex is less than 15 billion U.S. dollars.
****Eastman Chemical's original 2020 capex was 450-475 million U.S. dollars, and the revised capex for 2020 is 325-375 million U.S. dollars.
*****The Pembina Pipeline figures are in Canadian dollars, and the revised 2020 capex is 1.2-1.4 billion Canadian dollars.
Energy/fossil fuel companies also often produce petrochemicals and commodity chemicals, hence the inclusion of energy companies in this statistic.

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