Chevron will expand Venezuela operations, more than doubling production through $7 billion investment

Chevron will expand Venezuela operations, more than doubling production through $7 billion investment

US oil giant Chevron confirms it will expand operations in Venezuela

Oil giant Chevron is confirming that it is expanding its operations in Venezuela, just days after President Donald Trump announced an ambitious deal to develop the nation’s oil reserves and give the Pentagon a stake in the profits.

Chevron confirms it will expand operations in Venezuela

NEW YORK (AP) — Chevron confirms it will expand operations in Venezuela.

Chevron to Spend $7 Billion on Doubling Its Venezuelan Output

Chevron Corp. plans to invest $7 billion over the next five years to more than double its oil production in Venezuela, the largest financial commitment so far in a US government-led push to revive the Latin American country’s industry.

Chevron to expand in Venezuela as US energy secretary lands in Caracas

Chevron is expected to announce an expansion of its Venezuelan operations on Wednesday, hours after the country's parliament approved handing Washington control of a fifth of its oil reserves and as US Energy Secretary Chris Wright arrives to sign the agreement.

Chevron expands Venezuela position, to invest $7 billion in next five years

Chevron said on Wednesday it had agreed with Venezuela on updated terms for its joint ventures in ​the country and plans to invest more than $7 billion over the next five ‌years, targeting production of about 600,000 bpd.