Market Chatter: Chevron CEO Says Venezuela Oil Sales to Fund Expansion in Country

12:52 PM EDT, 09/11/2026 (MT Newswires) -- Chevron's (CVX) $7 billion expansion in Venezuela will be funded with cash generated from the country, Bloomberg reported Friday, citing CEO Mike Wirth as saying at the University of Texas' Energy Symposium in Austin. The company's plan to double production to over 600,000 barrels per day over the next five years will be funded by its three joint ventures in the country, the report said. Chevron did not immediately respond to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.) Price: 214.02, Change: +1.26, Percent Change: +0.59