Chevron Signs Asset Swap to Expand Venezuelan Oil Projects
Chevron signed deals with PDVSA to raise its stake in the Petroindependencia project to 49%. The firm will swap assets to focus on strategic Orinoco Belt crude.
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CHEVRON CORP has signed two major agreements to expand its operations within the Orinoco Belt in Venezuela, signaling a strategic realignment of its energy portfolio in the region. The deal involves an asset swap designed to consolidate the company's focus on heavy crude projects while returning certain offshore and regional assets to the state.
