CVX · News · 20260921N

Venezuela Investment Conditions

CHEVRON CORP · 2026-09-21 · Importance 89 · Surprise 82

U.S. imports of Venezuelan crude reached 782,000 barrels per day in the week ended September 11, a 237% increase over the prior six months, according to third-party reporting. Chevron reportedly plans to invest $7 billion over five years to more than double Venezuelan production to 600,000 barrels per day. The reported expansion depends on continued operating and political conditions in Venezuela, while Chevron’s U.S. refineries are described as suited to processing the country’s heavy crude.