World
Chevron expands Venezuelan operations as Exxon remains cautious
Chevron is committing $7 billion to Venezuela with the goal of doubling its oil production to 600,000 barrels per day by 2031, a significant increase from its current output of 300,000 barrels daily. This move contrasts with ExxonMobil’s more measured approach, as CEO Darren Woods cautioned against hasty investment and emphasized the need for substantial reforms.