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Chevron is importing approximately 250,000 barrels of Venezuelan crude oil per day into the United States.
Chevron is importing 250,000 barrels of Venezuelan crude oil per day into the U.S.
KEY POINTS
- Venezuela reopened its oil sector to foreign involvement after Nicolás Maduro's removal and extradition.
- Chevron is currently the only U.S. company allowed to extract and transport Venezuelan crude oil.
- Chevron plans to increase imports to 350,000–400,000 barrels per day in the near future.
- U.S. refineries are specifically configured to process heavier Venezuelan crude, incentivizing these imports.
COMPANIES
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