The American oil company Chevron plans to increase its production in Venezuela by 20% by the end of this year, compared to the last 12 months, announced its CEO, Mike Wirth. "By the end of the year, we plan to reach a crude production of about 300,000 barrels of oil per day. Thanks to the new tax regime, Venezuela positioned itself more competitively in our portfolio and immediately began generating positive free cash flow. "Last month we announced plans to reach about 600,000 barrels of oil per day by 2031," he said in a statement. Additionally, he noted that Chevron plans to invest $7 billion in the Latin American country over the next five years to boost production growth.

The American oil company Chevron plans to increase its production in Venezuela by 20% by the end of this year, compared to the last 12 months, announced its CEO, Mike Wirth. "By the end of the year, we plan to reach a crude production of about 300,000 barrels of oil per day. Thanks to the new tax regime, Venezuela positioned itself more competitively in our portfolio and immediately began generating positive free cash flow. "Last month we announced plans to reach about 600,000 barrels of oil per day by 2031," he said in a statement. Additionally, he noted that Chevron plans to invest $7 billion in the Latin American country over the next five years to boost production growth.