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Chevron, Repsol Poised to Capitalize on Venezuelan Oil Opening
Venezuela has an opportunity to resuscitate the linchpin of its economy — oil — now that punishing US sanctions have been relaxed. The surprise move on Oct. 18 allows international companies to apply the full weight of their expertise and technology to crude fields and infrastructure that atrophied amid years or underinvestment, civil turmoil and international isolation. Here’s a snapshot of who stands to gain and who may be left out: Chevron Corp. The second-largest US explorer is best-positioned to benefit from the reopening. Chevron adopted a patient approach across the tenures of three CEOs by maintaining a ... (full story)