CVX · News · 20260831N
Venezuela Investment Conditions
CHEVRON CORP · 2026-08-31 · Importance 32 · Surprise 24
Chevron is reportedly on track to sign a final agreement for energy projects in Venezuela after months of negotiations, alongside ONGC, Eni and GeoPark. Separate reporting said Chevron and Halliburton are nearing Venezuela oil deals that could unlock billions of dollars of investment as the United States seeks to rebuild the country’s production. Chevron is described as the only U.S. oil major with significant existing Venezuelan operations and as having refining capacity for substantial volumes of Venezuelan crude, while former Chevron Latin America president Moshiri highlighted the country’s reserves as avoiding the Hormuz, Red Sea and Black Sea chokepoints.