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المشهد العربي
Chevron commits 7 billion in Venezuela
Chevron, the American company, announced an agreement with the Venezuelan government to invest more than $7 billion over five years to increase oil production to approximately 600,000 barrels per day. These investments will be used to expand the production capacity of its three joint ventures, which have grown by 15% since the beginning of the year, with expectations of reducing total costs to less than $20 per barrel. Chevron has been active in Venezuela for a century, setting itself apart from ExxonMobil and ConocoPhillips, which left the sector after their assets were nationalized in 2007.
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