Chevron Announces $7 Billion Investment to Expand Venezuelan Oil Production

Chevron to Invest $7 Billion to Boost Venezuelan Output

Chevron plans to more than double its oil production in Venezuela, investing $7 billion over the next five years. The company is making largest financial commitment so far in a US government-led push to revive the Latin American country’s industry. Tyler Kendall reports on Bloomberg Television. (Source: Bloomberg)

Chevron Expansion in Venezuela Extends U.S. Influence Over Oil Riches

The U.S. energy giant, which stayed in the country after other Western companies left, will invest $7 billion in the country to more than double its production there.

By Rebecca F. Elliott

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

US energy secretary vows oil output will double on visit to Venezuela

US Energy Secretary Chris Wright landed in Venezuela on Tuesday ahead of a signing ceremony for a landmark oil deal between the US government and Venezuela. The deal would see the US create and control a private company that will hold 65 billion barrels in proven oil reserves. This agreement is also meant to encourage other US energy firms to invest in the country, in spite of serious challenges. In this edition, we see what other deals could be announced and what those challenges are.

By Charles PELLEGRIN

Chevron outlines $7 billion plan to expand in Venezuela

Chevron says it will expand its operations in Venezuela, following the Trump administration’s move for a Pentagon-backed plan to develop the country’s oil reserves.

By Steve Goldstein

Chevron to spend $7B-plus over five years to double Venezuelan production

Chevron to invest over $7bn in Venezuela, targets twofold rise in oil output

Houston: Chevron Corporation will invest more than $7 billion in its Venezuelan joint ventures over the next five years and more than double production to...

By Times of Oman