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Chevron Expands Venezuela Heavy Oil Position

Chevron has agreed an asset swap in Venezuela that lifts its Petroindependencia stake to 49% and gives Petropiar rights over Ayacucho 8, while offshore gas interests move to Venezuela.

Chevron approves Leviathan gas expansion off Israel

Chevron and partners have taken FID to expand the Leviathan gas platform offshore Israel, adding new wells and subsea infrastructure to lift gas deliveries to Israel and regional markets to about 21 bcm a year.

US embargo forces Venezuela to slash oil output

According to Reuters, PDVSA is shutting in wells and joint ventures as a US oil embargo freezes exports, fills storage, disrupts Russian diluent supplies and raises risks for refining and fuel markets.

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