HOUSTON, TEXAS (By Pietro D. Pitts, Energy Analytics Institute, 13.Apr.2026, Words: 300) — Chevron Corporation, through its subsidiaries with interests in Venezuela, agreed to an asset swap with Petroleos de Venezuela, S. A. (PDVSA) and subsidiaries of PDVSA in a mutually beneficial agreement which will consolidate all parties’ focus on strategic assets in the country, especially in Venezuela’s Orinoco Heavy Oil Belt, also known as the Faja.
Per the agreement, Chevron will receive an additional 13.21% working interest in the Petroindependencia, S.A. joint venture (JV), boosting its total stake to 49%.
