Divestment and cash capital expenditure

The levels of divestment proceeds and cash capital expenditure in 2022 and 2021 reflect our discipline and focus on the Powering Progress strategy. Divestment proceeds for 2022 were $2.1 billion, compared with $15.1 billion in 2021, which included the divestment of the Permian assets.

Cash capital expenditure is used to monitor investing activities on a cash basis, excluding items such as lease additions which do not necessarily result in cash outflows in the period.