XLE - Chevron JV Launches New Drilling Campaign In Venezuela: Report | Benzinga
The U.S. oil major company Chevron‘s (NYSE:CVX) joint venture with Venezuelan state-owned oil company PDVSA, Petroindependencia, launched a new drilling campaign.
Notably, in October, the U.S. eased oil sanctions on Venezuela following an agreement between its government and its political opposition, reported Reuters.
Chevron holds a separate authorization to operate oil fields in Venezuela, a member of the Organization of the Petroleum Exporting Countries (OPEC).
The sanctions relief aids in higher Venezuelan ...