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Chevron said its subsidiaries with interests in Venezuela agreed to an asset swap with Petroleos de Venezuela, or PdVSA.
Chevron will increase its stake in the Petroindependencia joint venture to 49%.
KEY POINTS
- Petropiar, 30% owned by Chevron, gains rights to develop a new area in the Orinoco Oil Belt.
- Chevron subsidiaries will transfer a 60% interest in an offshore block to PdVSA.
- Chevron will also give PdVSA gas licenses and a 25.2% non-operated interest in Petroindependiente.
COMPANIES
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