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Chevron Doubles Down on Venezuela Oil Production

Guavy AI Editorial Team
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CVX
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Chevron has announced a deal to increase oil production in Venezuela, a move that could see current output double.

The company expects to reach around 600,000 barrels per day following the agreement, which was made possible by improved conditions and additional acreage.

Chevron CEO Mike Wirth said that the expansion reflects the company's confidence in Venezuela's deep resource potential and its ability to compete for investment within their portfolio.

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