Chevron Just Committed $7 Billion to Venezuela. Here's What It Means for CVX Stock.
Yahoo Finance ·
Oil major Chevron ( CVX +0.56% ) plans to invest more than $7 billion in Venezuela through 2031 to double its oil production in the country to nearly 600,000 barrels per day. This is a massive development as it aligns straight with President Donald Trump's big push in the region. Chevron is the only oil major with an active presence in Venezuela and has been operating in the country since 1923. Here's what that means for Chevron investors.
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