Chevron has secured a deal to more than double its oil output in Venezuela, signaling a significant expansion of its operations in the country. The agreement, announced early Wednesday, will allow the company to increase production from its current levels, potentially boosting its reserves and revenue streams. This move comes amid a broader strategy to strengthen its presence in the region, despite ongoing geopolitical and regulatory challenges. The expansion could also impact local economies and the global oil market, as Chevron seeks to capitalize on Venezuela’s rich but underutilized resources.
{beacon} Energy & Environment Energy & Environment The Big Story Chevron plans to double its Venezuela oil production Chevron announced early Wednesday that it has reached an agreement to expand its oil production in Venezuela. © AP Photo/Rogelio V. Solis, File The company said the deal would more than double its current oil production...
