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Chevron plans $7 billion Venezuela investment to more than double output

Chevron says it has entered multiple agreements with Venezuela, setting updated terms for its joint ventures. The company plans to invest more than $7 billion over the next five years to more than double production.

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Chevron is taking steps to more than double its production in Venezuela, planning to invest more than $7 billion in the country over the next five years.

The company says Wednesday it has entered multiple agreements with the country, establishing updated terms with its joint ventures to support fut…