Marketplace · Thursday, September 3, 2026
US oil giant Chevron announced a significant $7 billion investment in Venezuela over the next five years, aiming to double its oil production in the country to 600,000 barrels per day. This move is seen as a turning point for Venezuela's energy sector and the largest single company investment in the country to date.
“The goal for Chevron is to double its oil production in the country to 600,000 barrels a day.”
“So it's a pretty significant investment for Chevron, but also importantly, it's the largest investment so far by an individual company in Venezuela.”
“This makes a lot of sense for them to continue to grow an asset that they're already had and have had for decades.”