Venezuela to Grant More Oil Blocks to Chevron

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Venezuela plans to grant more oil production blocks to Chevron Corporation as President Trump encourages American energy companies to rebuild the country’s oil infrastructure. This move follows reports that Chevron is set to significantly increase its Venezuelan crude oil exports to the U.S. to 300,000 barrels per day by March. Chevron is seen as a key beneficiary of recent U.S. actions in Venezuela and already operates four joint ventures with PDVSA.

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