New York, Sept 2, 2026 (AFP) - Chevron unveils deal to double Venezuela venture output in 5 years

NAMPA / AFP

2026-09-02

Chevron announced a $7 billion deal with Venezuela on Wednesday to develop two additional oil fields in the country's Orinoco Belt, expected to more than double output in five years. The Petroindependencia joint venture, in which the US oil giant has a 49-percent stake, will develop two new areas of the oilfield near existing work in Venezuela's heavy-oil Orinoco Belt, lifting output to around 600,000 barrels a day, according to a Chevron press r......

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