Chevron Ramps Up Venezuela Operations With $7 Billion Investment
The oil giant plans to more than double its output in the country as the Trump administration opens Venezuela's vast reserves for more exploration.
TL;DR
- Chevron plans to invest over $7 billion in Venezuelan joint ventures in the next five years.
- The investment is expected to more than double Chevron's production in Venezuela.
- New agreements with Venezuela include improved investment terms and access to more oil fields.
- The projects are expected to be developed at a cost of less than $20 per barrel.
- Chevron has a history in Venezuela spanning over a century.