Chevron’s $7B Bet on Venezuela’s Oil | Miami News

Chevron is pouring $7 billion over five years into Venezuela to double its oil output, securing new land in the massive Orinoco Belt—home to the world’s largest proven reserves. With improved terms and access to key zones like Carabobo One and South-A, the company aims for cost-effective growth, long-term value, and potential U.S. energy relief. But experts warn: decades of neglect have crippled Venezuela’s infrastructure, and extracting heavy crude will take years and billions more—so while the investment is huge, real payoff may be far off. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/7c0bf4b019713d0c