Chevron (CVX), PDVSA Launch New Drilling Plan in Venezuela

A joint venture (JV) between Chevron Corporation (CVX) , a U.S. oil giant, and Venezuela's state oil company PDVSA has initiated its new drilling campaign.  This is part of CVX’s plan to significantly increase oil output in Venezuela's oil industry. This move comes amid a complex geopolitical landscape, with U.S. sanctions on Venezuela and upcoming elections in both countries adding layers of uncertainty. Let’s delve into the details of this ambitious venture, highlighting its implications and prospects.Pet ...