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Add as a preferred source on GoogleChevron Targets About 600,000 Barrels Per Day From Venezuela Ventures
Management says the plan would be self-funding and generate positive free cash flow, with expected costs below $20 per barrel.
Chevron plans to roughly double output from its Venezuela joint ventures to about 600,000 barrels per day by 2031, with management saying expected costs are below $20 per barrel.
Chevron management described the plan as immediately accretive, self-funding and positive for free cash flow.
Chevron's adjusted earnings in the third quarter were $10.4 billion, down $1.6 billion from the prior quarter. Operating cash flow excluding working capital was $16.6 billion.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.