The logo of Chevron is seen at the company’s office in Caracas, Venezuela April 25, 2018.
Marco Bello | Reuters
Chevron announced plans Wednesday to more than double its oil production in Venezuela over the next five years through a $7 billion investment that expands its position in the South American nation.
The oil major has been assigned two additional oilfields in Venezuela’s Orinoco Belt. It plans to increase production to 600,000 barrels per day compared to around 280,000 bpd currently.
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