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Chevron says Venezuela oilfields operating normally

Published 03/26/2018, 04:35 PM
© Reuters.  Chevron says Venezuela oilfields operating normally
CVX
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  • Chevron (NYSE:CVX) says its Venezuela oilfields continue to operate normally, even as concerns mount about the country’s ability to maintain production amid a deterioration of the broader economy.
  • “The upstream operations are still functioning,” Jay Johnson, CVX’s head of upstream operations, tells Reuters at the Scotia Howard Weil energy conference in New Orleans, while declining to comment when asked if the company expects to be asked by PDVSA to divert crude from export to PDVSA refineries.
  • CVX operates in Venezuela, home to the world’s largest oil reserves, as part of its 30% stake in the Petropiar joint venture with PDVSA, the Venezuelan state-controlled oil company.
  • Now read: Rejecting The Bear Thesis For Argentina


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