Chevron to Invest $7 Billion to Double Venezuela Output
CVX Chevron Corp
$211.05 +2.38%
View chart & analysis → - 1Chevron (CVX) will invest $7 billion over the next five years to more than double its crude oil production in Venezuela.
- 2It has secured development rights for the Orinoco Belt's Carabobo 1, 2, and South A blocks, targeting around 600,000 barrels per day by 2031.
- 3This marks the largest capital commitment to date in the U.S.-led effort to rebuild Venezuela's oil industry.
This 3-line summary is compiled from the report below.
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