Home Investing News Venezuela, Chevron formally sign oil contracts in Caracas

Venezuela, Chevron formally sign oil contracts in Caracas

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Venezuela signs contracts with Chevron to reanimate, expand oil output By Reuters

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(C) Reuters. FILE PHOTO: The logo and trading information for Chevron is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 27, 2022. REUTERS/Brendan McDermid

CARACAS (Reuters) – Venezuela’s oil minister and top representatives of companies PDVSA and Chevron Corp (NYSE:CVX) on Friday signed contracts aimed at reviving crude output and expanding operations in the U.S.-sanctioned nation, following a license by Washington.

The contracts include the joint ventures Petroboscan and Petropiar, officials said, but details were not disclosed. The documents were signed at PDVSA’s Caracas headquarters by minister Tareck El Aissami, Chevron’s President for Venezuela, Javier La Rosa, and PDVSA’s president Asdrubal Chavez.

Venezuela signs contracts with Chevron to reanimate, expand oil output

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