Texas based Occidental Petroleum Corporation (Oxy) has made the greatest reduction (as a share of initial planned spending) in their capital expenditures for 2020 out of all large oil and gas producers in the world. The coronavirus pandemic has caused Oxy to reduce their 2020 capex by 48.1 percent, down to 2.7 billion U.S. dollars from the 5.2 billion dollars that was planned at the beginning of the year.
For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.
Capital expenditure revision of selected oil and gas producers worldwide in 2020 as a result of coronavirus impact
(in billion U.S. dollars)
Characteristic
Revised
Initial
Saudi Aramco
25
35
Shell
20
25
Chevron
16
20
Total S.A.
14.4
18
BP
12
15
Petrobras
8.5
12
Equinor
8.5
10.6
Eni
6.5
8.7
ConocoPhillips
5.9
6.6
EOG Resources
4.3
6.2
Suncor Energy
3.9
5.4
Oxy
2.7
5.2
EcoPetrol
3.3
4.5
0102030402.557.512.51517.522.52527.532.53537.5
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IEA. (April 1, 2020). Capital expenditure revision of selected oil and gas producers worldwide in 2020 as a result of coronavirus impact (in billion U.S. dollars) [Graph]. In Statista. Retrieved March 07, 2025, from https://www.statista.com/statistics/1109778/oil-companies-capex-decrease-due-to-covid-19/
IEA. "Capital expenditure revision of selected oil and gas producers worldwide in 2020 as a result of coronavirus impact (in billion U.S. dollars)." Chart. April 1, 2020. Statista. Accessed March 07, 2025. https://www.statista.com/statistics/1109778/oil-companies-capex-decrease-due-to-covid-19/
IEA. (2020). Capital expenditure revision of selected oil and gas producers worldwide in 2020 as a result of coronavirus impact (in billion U.S. dollars). Statista. Statista Inc.. Accessed: March 07, 2025. https://www.statista.com/statistics/1109778/oil-companies-capex-decrease-due-to-covid-19/
IEA. "Capital Expenditure Revision of Selected Oil and Gas Producers Worldwide in 2020 as a Result of Coronavirus Impact (in Billion U.S. Dollars)." Statista, Statista Inc., 1 Apr 2020, https://www.statista.com/statistics/1109778/oil-companies-capex-decrease-due-to-covid-19/
IEA, Capital expenditure revision of selected oil and gas producers worldwide in 2020 as a result of coronavirus impact (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1109778/oil-companies-capex-decrease-due-to-covid-19/ (last visited March 07, 2025)
Capital expenditure revision of selected oil and gas producers worldwide in 2020 as a result of coronavirus impact (in billion U.S. dollars) [Graph], IEA, April 1, 2020. [Online]. Available: https://www.statista.com/statistics/1109778/oil-companies-capex-decrease-due-to-covid-19/
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