Chevron's Venezuelan Crude Deal Fuels Pascagoula Refinery Growth

Chevron's deal to access more Venezuelan crude oil has led to significant growth at its Pascagoula refinery in Mississippi.

The refinery, which has been processing Venezuelan crude for decades, is now able to process up to 100,000 barrels of crude a day, thanks to the coker unit that handles heavy crude.

Marissa Badenhorst, Pascagoula Refinery Director, said production could increase further as more details of the deal become clear.

'We've done up to 100,000 barrels a day, which is a lot of crude, but we can do more,' she said. 'I think we're forecasting doubling our production in Venezuela over the next year or two.'

Badenhorst believes increased production could help lower gas prices by providing a more diverse supply chain and reducing reliance on Middle Eastern oil.