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LBCI Lebanon
Chevron to double Venezuela oil output
Chevron, the American company, announced plans to double its oil production in Venezuela over the next five years after acquiring new oil fields in the Orinoco region. The daily production volume is expected to increase to around 600,000 barrels compared to 2026 levels, by developing two new sites near existing areas. This move is part of the company's efforts to strengthen its oil reserves and capitalize on opportunities in the Venezuelan market, despite the country's political and economic challenges.
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