Chevron to expand activity in Venezuela
Chevron's expanded activity in Venezuela could increase upstream crude oil production and supply flows from the country.
Source →The trace
How it reaches your house.
Starting from Chevron Corporation, we walked the supply graph hop by hop to the goods you buy and the companies you own. Each step is the engine’s reasoning, scored for confidence and cited where a source backs it.
First impact
Chevron Corporation →supply upVenezuelan crude oil supply
Chevron said it will invest more than $7 billion through its Venezuela joint ventures to double oil production to about 600,000 barrels per day, directly implying higher Venezuelan crude supply.
“Chevron will invest more than $7 billion through its Venezuela joint ventures to double oil production to about 600,000 barrels per day over the next five years in the South American country.”
96% confidenceCited →Chevron Corporation →Stands to benefitGrupo AeromexicoAERO
Aeromexico buys airport fuel from Chevron, so Chevron’s expanded Venezuelan crude output should help Aeromexico via better fuel availability or pricing.
58% confidenceSyncrude Canada →Prices easeReuters and other coverage describe the expanded Venezuelan push as a competitive threat to Canadian heavy crude/oil sands, so if Syncrude trims activity it would buy less fuel-grade petroleum coke, pressuring that input's price.
36% confidenceHop 2
Petroleum Coke (Fuel Grade) →supply upMore fuel-grade petroleum coke should ease a critical input constraint for cement and concrete production, increasing their available supply.
69% confidence
Where it lands
What you buy, and what you own.
Goods you buy
Cement and concrete
In the MyPRIA app, this is checked against your own holdings.