Chevron Stands Firm in Venezuela Oil Deal

Chevron Corp.'s CEO has spoken about its patient approach to extracting oil from Venezuela. The company stayed in Venezuela for two decades, despite US sanctions and accusations of corruption.

The Houston-based company secured rights to the world's largest oil reserves in the mid-2000s after former President Hugo Chavez nationalized foreign assets.

Chevron endured accounting write-offs, arrests of its employees, and accusations of collusion with a regime rife with human rights abuses.