American Chevron expects to increase oil production in Venezuela by 20% by the end of 2026 compared to the last 12 months, said company head Mike Weir. "Ultimately, we plan to achieve crude production of about 300,000 barrels of oil per day, which is 20% more than in the last 12 months," he said. Chevron has been operating in Venezuela for more than 100 years. "Due to the new tax conditions, Venezuela became more competitive in our investment portfolio, and immediately started bringing positive cash flow. Last month we announced plans to double production at our three joint ventures to approximately 600,000 barrels of oil per day by 2031. More on the link: /.

American Chevron expects to increase oil production in Venezuela by 20% by the end of 2026 compared to the last 12 months, said company head Mike Weir. "Ultimately, we plan to achieve crude production of about 300,000 barrels of oil per day, which is 20% more than in the last 12 months," he said. Chevron has been operating in Venezuela for more than 100 years. "Due to the new tax conditions, Venezuela became more competitive in our investment portfolio, and immediately started bringing positive cash flow. Last month we announced plans to double production at our three joint ventures to approximately 600,000 barrels of oil per day by 2031. More on the link: /.