Chevron announces deal to expand its oil production in Venezuela

descriptions off, selected

captions settings, opens captions settings dialog

captions off, selected

This is a modal window.

Beginning of dialog window. Escape will cancel and close the window.

End of dialog window.

Administration unveils more details on Venezuela oil deal

Administration unveils more details on Venezuela oil deal

Chevron announced early Wednesday that it has reached an agreement to expand its oil production in Venezuela.

Chevron said that it has been assigned additional acreage in the Orinoco Belt, where it has an established position. Joint venture plans include investing more than $7 billion over the next five years and increasing production to approximately 600,000 barrels a day compared to 2026.

“Chevron’s history in Venezuela spans more than a century, and our expanded position reflects our........

© The Hill