Chevron (CVX), PDVSA Seek 15-Year Extension for Oil Venture

Chevron Corporation (CVX) , an integrated oil and gas company, in collaboration with Venezuela's state oil company, Petróleos de Venezuela, S.A. ("PDVSA"), formally requested an extension for the Petropiar joint venture, situated in the Orinoco Belt. This region is renowned as Venezuela's largest oil-producing area, yielding significant crude oil outputs crucial to both companies' strategic interests.Current Production and Partnership DetailsCurrently, CVX and PDVSA operate four joint ventures across Venezu ...