FACTBOX: North American Energy Sector Expects Higher Spending in 2023

Dec 20 (Reuters) – U.S. and Canadian oil and gas companies are expecting to spend more in 2023, compared with the current year, as inflation drives up costs of everything from raw materials to labor.

U.S. companies Exxon Mobil, Chevron and Phillips 66 also raised their capital allocation toward their lower carbon businesses.

Following is a list of companies and their budgets:

THE UNITED STATES