PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 2.May.2025, Words: 452) — Chevron Corporation CEO Mike Wirth said there were 2 important real implications related to the US’ sanction policy aimed at Venezuela: energy security and national security.
The US company has operated in Venezuela for over 100 years. And, its 4 joint ventures in Venezuela were producing an average 242,000 barrels per day (b/d) in late-Feb. 2025, according to state-owned Petróleos de Venezuela (PDVSA) documents seen by Energy Analytics Institute (EAI). This production represented nearly 27% of Venezuela’s average oil production at that time, according to secondary sources data published by the Organization of Petroleum Exporting Countries (OPEC) in its Monthly Oil Market Report (MOMR).
