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Chevron is taking steps to more than double its production in Venezuela, planning to invest more than $7 billion in the country over the next five years.
Chevron has inked a deal to spend $7 billion in Venezuelan oil fields over the next five years. It adds two new undeveloped heavy oil fields to the company’s JV with state-run Petróleos de Venezuela. The expansion plan—a win for the Trump administration, which has prompted oil companies to invest there—will double Chevron’s output over five years to 600,000 barrels per day.
Sept 2 (Reuters) - Chevron said on Wednesday it had agreed with Venezuela on updated terms for its joint ventures in the country and plans to invest more than $7 billion over the next five years,
Oil giant Chevron is confirming that it will expand its operations in Venezuela, just days after President Donald Trump announced an ambitious deal to develop the nation’s oil reserves and give the Pentagon a stake in the profits. Chevron said Wednesday that it has been assigned additional acreage in the Orinoco Belt, where the company has an established position. “Chevron’s history in Venezuela spans more than a century, and our expanded position reflects our confidence in the country’s deep resource potential and its ability to compete for investment within our portfolio for decades,” CEO Mike Wirth said in a prepared statement.
Chevron Corp. plans to invest $7 billion over the next five years to more than double its oil production in Venezuela, the largest financial commitment so far in a US government-led push to revive the Latin American country’s industry.
CARACAS, Sept 1 (Reuters) - Venezuela's ruling party-dominated National Assembly backed the country's oil deal with the Trump administration in a vote on Tuesday, ahead of a visit to Caracas by the
Oil giant Chevron is expected to soon announce it will expand operations in Venezuela, a U.S. official said Tuesday. The official, who briefed reporters on the expected announcement, said that the company’s officials and Energy Secretary Chris Wright are expected to visit Venezuela on Wednesday where the new investment will be formally unveiled. The official spoke under condition of anonymity under ground rules set by the White House for the call.
HOUSTON/CARACAS, Aug 31 (Reuters) - U. companies Chevron and GE Vernova, India's ONGC, Italy's Eni and Colombia's GeoPark are on track to sign final agreements in Venezuela after months of negotiations to firm up energy projects in the OPEC country, five sources close to the preparations said.
Stocks slipped in early trading as traders saw an increased probability of a September rate hike and the US and Iran exchanged fire over the weekend, dampening sentiment near the end of an ebullient earnings season.
↘️ PG&E (PCG): Shares of the California utility sank 8% premarket after lawmakers over the weekend introduced wildfire legislation that left out Gov. Gavin Newsom’s proposal to block insurance companies from suing utilities for wildfire-related claims.
The federal government will control 55% of the company's effective output via equity ownership and oil production.
President Donald Trump is set to meet with US oil refining executives as he confronts persistently high gasoline prices stoked by the war in Iran.
Investing.com -- Chevron (NYSE:CVX) shares rose 0.5% and Halliburton Company (NYSE:HAL) gained 1.7% following a Wall Street Journal report that the companies are nearing deals to invest billions of dollars in Venezuelan oil fields.
The U.S. oil major is close to a deal to add two heavy-oil fields to its portfolio in Venezuela. Halliburton is also in talks.
Sticky inflation is quietly rewarding a specific group of stocks with decades of uninterrupted dividend growth, and Wall Street's top analysts say five of them are built to profit no matter how long rising prices persist.
A new oil find off the coast of Angola pushed Chevron stock near record highs.
A renewed spike in oil prices is the biggest risk facing US stocks, according to Morgan Stanley’s Michael Wilson, who recommended using energy shares to hedge portfolios.
Brent crude just broke $95 and the August inflation print has not yet landed, which means the window to position ahead of the next dividend cycle is closing fast. Three energy companies are already converting the spike into bigger shareholder checks, and the structural reasons why they can keep doing it through an $80 pullback are worth understanding before prices move again.
Latin America’s two biggest oil companies are betting big on a high-risk effort to unlock a vast trove of crude from rocks that haven’t seen the light of day in 160 million years.
ExxonMobil Holdings Corp. has told Kazakhstan that the nation’s top oil field is already on the cusp of peak output and that its production will slump sharply in the coming decade.
📈 Follow our live markets data and coverage. If there’s any business for which changing course really is like turning around a supertanker, it’s Big Oil. At the beginning of this year, the Western world’s five large, integrated energy companies were talking about things like “structural cost efficiencies,” “consistent delivery” and “superior shareholder returns, despite declining oil prices.”
A tie-up between two of America’s biggest refiners would have reshaped the industry, but antitrust concerns and operational complexity ultimately derailed the deal.
GLNG's second-quarter 2026 earnings and revenues improve year over year.
Stock Market Today: The Dow Jones index rises Thursday after surprise key inflation data. Cisco and AI stock Cerebras plunge on earnings.
Futures for the Dow Jones Industrial Average and the other major stock indexes traded higher Tuesday, after it was reported the U.S. and Iran had reached "some sort of an arrangement" for a peace deal.
Shares were mixed in Asia, while oil prices were holding steady Tuesday after jumping the day before as uncertainty persisted over when the Strait of Hormuz could reopen and get the global flow of crude going again. U.S. futures edged higher. Brent crude oil was unchanged at $87.72 a barrel, while U.S. benchmark crude also was flat at $82.13 a barrel.
Texas Pacific Land (NYSE:TPL) reported record quarterly revenue, net income and free cash flow for the second quarter of 2026, supported by higher oil and gas royalty production, produced-water royalty volumes and surface-related revenue. Chief Executive Officer Ty Glover said the company generated
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