15:15 - 2.09.2026

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September 2, Fineko/abc.az. US energy giant Chevron announced on Wednesday that it has agreed on updated terms for its joint ventures in Venezuela and plans to invest more than $7 billion over the next five years.

According to the company's statement, the capital expenditure program aims to boost production to approximately 600,000 barrels per day (bpd).

The agreement marks a significant expansion of Chevron's operational footprint in the South American nation, leveraging regulatory flexibility to revitalize mature fields and scale up long-term output.