US Government Takes 55% Control of Venezuelan Oil Joint Venture, Securing No. 2 Reserves
CVX Chevron Corp
$201.86 +1.05%
View chart & analysis → - 1Under the Trump administration's deal for Venezuela's 65 billion barrels of crude, the federal government will acquire a stake in a new joint venture.
- 2The federal government will control 55% of effective output, making the company the world's second-largest holder of proven reserves after Saudi Aramco.
- 3The scale exceeds the U.S. proven reserves of 46 billion barrels, and Rodriguez projected investments of over $100 billion.
This 3-line summary is compiled from the report below.
Fortune View original ↗
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