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ExxonMobil urges caution as Chevron commits $7 billion to Venezuela oil expansion

Oct 31, 2026 07:02 (7h ago)

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ExxonMobil CEO Darren Woods urged caution before committing to major Venezuela investments.
Chevron plans $7 billion investment, doubling output to 600,000 barrels daily by 2031.
Chevron has operated continuously while Exxon saw Venezuelan assets nationalized twice, most recently in 2007.