# Chevron Targets About 600,000 Barrels Per Day From Venezuela Ventures

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/45210
Published: 2026-10-30T22:49:39.000Z
Updated: 2026-10-30T22:49:39.000Z
Section: Business

> 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.