Chevron Corp Q1 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Paul Cheng - Scotiabank Global Banking and Markets, Research Division - Analyst : Two questions, please. First on inflation. Pierre, just curious, I mean for your CapEx for the next, say, 2 or 3 years, do you have a percentage you can share? What percent of your CapEx is in pretty much fixed price contracts, so don't subject much to inflation and what percent is really quite vulnerable to the inflation? And also, when we're looking at your CapEx for this year, the Bunge JV $600 million investment, is that included in your original budget or that this will be in addition to your original budget? That's the first question. The second question maybe is for Mike, that with the much sharply higher commodity prices, when you have discussion and negotiation with the NOC, the host government, is there a change in the attitude or that it become more difficult for you to get better terms? Or that this is happening too quick and so you haven't really seen any change in the way how you conduct the discussion with your counterpart in the national companies or the host government?