Chevron to Fund $7 Billion Venezuela Investment With Revenue From Existing Operations, CEO Says

(Reuters) – Chevron’s planned $7 billion investment in Venezuela will come entirely from cash generated by the U.S. oil major’s three existing joint ventures in the country, not new outside capital, CEO Mike Wirth said on Friday.

“We’ll live entirely within the means of those ventures’ ability to generate cash, not bring in cash from the outside,” Wirth said at a University of Texas at Austin energy conference.

Reporting by Sheila Dang in Austin;

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