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Chevron Expands in Venezuela's Oil Heartland | Venezuela News
Chevron just unlocked major new oil territory in Venezuela’s Orinoco Belt, securing two fresh sites in Carabobo to boost its Petroindependencia joint venture—proof of its long-term bet on Venezuela’s oil potential. With U.S. government backing and improved contracts that keep costs under $20 a barrel, Chevron is poised to ramp up output as Venezuela aims for 2 million barrels per day by decade’s end. Other global players like ENI and KEO Capital are also lining up, riding the wave of Venezuela’s recent energy reforms—while Chevron remains the lone major U.S. oil giant still operating there…
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