Chevron CEO says Venezuela is taking positive steps to protect private oil investment

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Chevron

CEO Mike Wirth said Friday that Venezuela has taken positive steps to protect investment by private oil companies since the Trump administration captured former President Nicolas Maduro.

Venezuela on Thursday passed reforms to its hydrocarbon law that ease state control of the oil industry and grants private producers more autonomy.

Wirth said Chevron is still reviewing the legislation. The CEO said security of contracts, commercial stability and regulatory predictability are key to attract investment in Venezuela.

Chevron CEO says Venezuela is taking positive steps to protect private oil investment

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