Chevron commits more than $7 billion to expand Venezuela output
Chevron (CVX) will commit more than $7 billion over five years to more than double production in Venezuela to roughly 600,000 barrels per day, adding another low-cost oil growth source.
Chevron NYSE:CVX is making a major long-term bet on Venezuela, committing more than $7 billion over five years to more than double production to roughly 600,000 barrels per day.
The expansion gives Chevron another source of low-cost oil growth at a time when investors are rewarding disciplined capi…