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Chevron Venezuela Deal

B
Benzinga

511 Views • Apr 14, 2026

Description

Chevron signed two agreements with PDVSA to expand operations in Venezuela's Orinoco Belt, including an asset swap and an increased stake in one joint venture from 35.8% to 49%. Current joint venture output stands at 260,000 barrels per day, roughly a quarter of Venezuela's total. Executives said production could rise 50% within two years under new U.S.-backed oil law reforms.

Keywords & Tags

#CVX #Chevron #Reuters #Venezuela #foreigninvestment #CrudeOil #JointVenture #LatinAmerica #oilandgas #EnergyMarkets #EnergyNews #OilIndustry #OilProduction #OrinoquBelt #PDVSA

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