US Oil Giant Chevron Confirms It Will Expand Operations in Venezuela
Chevron is betting on Venezuela’s vast oil reserves as ExxonMobil remains cautious about the country’s political risk.
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9 Articles
US oil giant Chevron confirms it will expand operations in Venezuela
Chevron confirmed that it will expand operations in Venezuela after President Donald Trump announced an ambitious deal to develop the nation's oil reserves and give the Pentagon a stake in the profits.
Editorial (ALN).- The executive director of Chevron, Mike Wirth, reiterated this Friday that the multinational does not contemplate allocating new venture capital for its operations in Venezuela. Despite the announced commitment to invest 7 billion dollars in the country over a five-year period, the oil company specified that these resources will come from [...] Entry Chevron clarifies that it will not allocate external capital for its business …
Chevron executive president Mike Wirth explained that the company will not need to contribute external capital to implement the expansion plan The post Chevron will finance expansion in Venezuela with revenues from its current operations appeared first on El Carabobeño.
The expansion of US$ 7 billion of Chevron Corp. in Venezuela, will be financed with profits from crude produced and sold in the Latin American country, and not with injections of external capital, according to the CEO of the oil company. Read more
The US oil company expects to double its production in the country and reach 600,000 barrels per day or more in the next five years, but its CEO warns that internationally supported elections are key to increasing investments
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