In The News

Chevron Corporation (NYSE: CVX) today announced agreements with Venezuela that establish updated terms for its joint ventures, supporting future investment, project development and production growth in the country. As part of the agreements, Chevron has been assigned additional acreage in the Orinoco Belt, where the company has an established position. Chevron is one of the leading energy companies in Venezuela, with a presence that dates back to 1923. Its joint ventures Petroindependencia and Petropiar, S.A. operate extra-heavy oil projects in the Orinoco Oil Belt, while Petroboscan, S.A. [...]

Chevron Corp. acquires operational control of a Venezuelan oilfields and processing facilities as part of a joint venture for safety processes, operational reliability, and production levels as well as other essential data necessary to gauge progress related to operational improvements and the dispatch of crude oil from Anzoategui state in eastern Venezuela. Managing agreement with PREMIER ENERGY VENEZUELA INVESTMENTS, C.A. in Venezuela has allowed PREMIER ENERGY SERVICES to perform operational work with PDVSA Mix Company PETROPIAR, S.A. and CHEVRON GLOBAL TECHNOLOGY SERVICES in compliance with sanctions. https://www.chevron.com/worldwide/venezuela [...]

PDVSA partner, GPB Neftegaz Services, B.V. (GPB) act as intermediary looking for ways to keep activity at their oil joint ventures going, have begun taking care of enhanced oil recovery steam generators systems, including water treatment plants and pump skids themselves to encourage an increase in production, in mature fields operated by Petrozamora which in many cases had fallen or halted due to thefts, casualties, equipment damage and environmental damage. This project was executed in complains with UU.EE. sanctions. Refurbishing Premier Energy enhanced oil recovery steam generators [...]

Chevron Corporation announced today it has, through its subsidiaries with interests in Venezuela, agreed to an asset swap with Petroleos de Venezuela, S. A. (“PDVSA”) and subsidiaries of PDVSA in a mutually beneficial agreement which will consolidate all parties’ focus on strategic assets in the country. “This agreement expands Chevron’s heavy oil position in two key joint ventures in Venezuela and reflects our disciplined development of the country’s significant resources. Ayacucho 8 is a producing asset in close proximity to Petropiar, which enhances development efficiencies,” said Javier [...]