US oil giant Chevron to expand Venezuela operations

Chevron, the only US oil firm with major presence in Venezuela, said it has been assigned extra acreage and will double output.Published On 2 Sep 20262 Sep 2026Chevron will invest more than $7bn through its Venezuela joint ventures to double oil production to about 600,000 barrels per day over the next five years in the South American country, the United States oil giant has said.Chevron, the only US oil company that has a major presence in the country, said on Wednesday that it has been assigned additional acreage in the Orinoco Belt, where the company has an established position and where its Petroindependencia joint venture will expand to include two adjacent areas in the Carabobo region.Recommended Stories list of 4 itemslist 1 of 4What is Iran’s Castle Breaker missile, used against US bases?list 2 of 4Tiger Woods pleads guilty to reckless driving, forfeits driving licencelist 3 of 4Argentina serves up a Messi-shaped schnitzel as fans say goodbyelist 4 of 4Summer transfers 2026: All to know as Premier League signings break recordsend of list“Chevron’s history in Venezuela spans more than a century, and our expanded position reflects our confidence in the country’s deep resource...