Stocks
Chevron Taps Existing Cash Flow for $7 Billion Venezuela Investment
Chevron is set to fund its planned $7 billion investment in Venezuela through revenue generated from existing joint ventures, according to CEO Mike Wirth.
The U.S. oil major will not be bringing in new capital to finance the project, which aims to tap into Venezuela's vast energy resources.
'We'll live entirely within the means of those ventures' ability to generate cash, not bring in cash from the outside,' Wirth said at a recent University of Texas at Austin energy conference.