Chevron will expand Venezuela operations, more than doubling production through $7 billion investment
Chevron will invest more than $7 billion to lift Venezuelan output to about 600,000 barrels per day under updated joint-venture terms, the company said.
- Chevron plans to invest over $7 billion in Venezuela over five years to more than double oil production to about 600,000 barrels per day compared to 2026 levels.
- Chevron has secured additional acreage in Venezuela's Orinoco Belt and improved commercial terms for joint ventures like Petroindependencia, where it holds a significant stake.
- Chevron's CEO Mike Wirth expressed confidence in Venezuela's vast resource potential and highlighted the company's long-term presence in the country.
- US Energy Secretary Chris Wright visited Venezuela to finalize agreements that provide the US with a stake in Venezuelan oil fields and support plans to increase production and strengthen energy security.
334 Articles
334 Articles
Chevron Inks $7 Billion Venezuela Deal, Aims to Double Production by 2031
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The Dallas Express News
wbap.comChevron Plans Major Venezuela Expansion As U.S. Targets Oil Growth
U.S. Energy Secretary Chris Wright says new energy deals could more than double Venezuela’s oil production in the next few years as the Trump administration pushes American investment into the country’s massive reserves. Wright made the comments during a visit to Caracas, where Chevron, Italy’s Eni and GE Vernova signed agreements that he described as […]
Chevron, a U.S. oil company, has decided to invest $7 billion to increase crude oil production in Venezuela. This development follows the opening of Venezuela's energy market after the collapse of the Maduro regime, accelerating the entry of global companies from Europe, India, and other regions.
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We got here in time. Chevron invests billions in local oil The American giant Chevron decided to take advantage of the favorable situation and expand its presence in Venezuela on a large scale
We got here in timeChevron invests billions in local oilThe American giant Chevron decided to take advantage of the favorable situation and expand its presence in Venezuela on a large scale. The company has reached a new agreement and plans to...
New Venezuela deal expands Chevron’s low-cost oil portfolio
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