Chevron to Invest $7 Billion in Venezuelan Oil Chevron's $7 billion investment in Venezuela marks a significant shift in the company's strategy, which has focused on increasing production despite the country's troubled history.
The move is part of a larger effort to boost Venezuelan oil output, hampered by economic challenges, political instability, and infrastructure issues.
Chevron's involvement in Venezuela dates back to 1908, when it first began operating in the country.