Chevron(US:CVX) Ge Long Hui A P P·2026-01-24 14:39Core Viewpoint - The U.S. is discussing a plan with Chevron and other oil producers to quickly restore Venezuela's oil production at a cost significantly lower than the $100 billion required for a complete overhaul [1] Group 1: Short-term Production Recovery - Major oilfield service companies like Schlumberger, Baker Hughes, and Halliburton are focusing on repairing or replacing damaged and outdated equipment, as well as refurbishing old drilling platforms [1] - With limited investment, Venezuela is expected to increase its daily oil production by several hundred thousand barrels in the short term [1] Group 2: Long-term Production Goals - The long-term goal is to fully revive Venezuela's oil industry, aiming to restore production from currently less than 1 million barrels per day to approximately 3.75 million barrels per day, the peak level of the 1970s [1] - Analysts believe that achieving this long-term target will take at least a decade, but there are many immediate opportunities for production increases [1] Group 3: Company-specific Initiatives - Halliburton aims to achieve immediate production recovery through rapid actions [1] - Chevron's Vice Chairman, Nelson, indicated plans to increase the output of joint venture projects by 50% within 18 to 24 months during a White House meeting on January 9 [1]