Chevron Stock Soars on Angola Discovery and Venezuelan Investment Plans

Chevron Corporation's stock has seen a 2.21% increase after major upstream project gains boosted long-term earnings prospects.

The Angola discovery, via Cabinda Gulf, supports Chevron's Sub-Saharan output base around 300,000 boe/d with a potential low-cost tie-back to existing platforms.

Chevron is in advanced talks to invest several billion dollars in Venezuelan heavy-oil fields, expanding its PdVSA joint ventures.