Factbox: North American energy sector expects higher spending in 2023

The Chevron logo is pictured after the U.S. government granted a six-month license allowing Chevron to boost oil output in U.S.-sanctioned Venezuela, in Caracas, Venezuela, December 2, 2022. REUTERS/Gaby Oraa/File Photo

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

CANADA

($1 = 1.3616 Canadian dollars)

Reporting by Ruhi Soni in Bengaluru; Editing by Anil D'Silva and Maju Samuel

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