Chevron Corp.

After a drone attack that disabled the Saudi east–west pipeline and about 4 million barrels per day (nearly 4% of global supply) and pushed Brent above $107, Chevron plans to invest over $7 billion to more than double production at its Venezuela joint ventures to around 600,000 barrels per day. Chevron expects total costs under $20 per barrel, making Venezuelan production a strategic advantage in an oil market with prices above $100. » More on finanzen.net

At the Barclays energy conference, Chevron announced it will increase production in Venezuela from 280,000 to 600,000 barrels per day by 2031 and invest $7 billion over five years to achieve this. The company delivered structural cost savings of $3 billion six months ahead of schedule and now views the Permian Basin, with a plateau of 1 million barrels per day, primarily as a cash generator. Share buybacks are being suspended for now due to recent oil price volatility, while dividend growth and balance-sheet strengthening remain priorities. » More on de.investing.com

Chevron signed a major agreement to expand its operations in Venezuela, gaining additional acreage and improved fiscal and commercial terms that support long-term investment. The company plans to invest over $7 billion in the next five years to more than double production to about 600,000 barrels per day, leveraging low estimated costs below $20 a barrel. Chevron's longstanding presence in Venezuela and recent asset swaps boosted its JV stakes and position ahead of rivals like ExxonMobil and ConocoPhillips, though production complexity and political risks remain. Management says sustained patience through difficult conditions enabled this competitive advantage. » More on finance.yahoo.com