CVX · News · 20261103N
Venezuela Upstream Expansion
CHEVRON CORP · 2026-11-03 · Importance null · Surprise null · In source text
Chevron has pledged more than $7 billion over five years to develop its Venezuelan operations. The company aims to more than double production in the country to about 600,000 barrels per day by 2031. The report also notes that changes to Venezuela’s legal, regulatory, and commercial frameworks have attracted other investors, including Eni and Repsol.
Key facts
- Chevron aims to more than double its Venezuela production to about 600,000 barrels per day by 2031. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | contingent | — | Chevron aims to more than double its Venezuela production to about 600,000 barrels per day by 2031. |