TechBloomberg Tech3h ago
Chevron CEO Says Patience Pays Off in Venezuela Oil Deal
TL;DRChevron waited decades in Venezuela and is finally able to pump oil profitably again.
Why it matters: Long-term resource plays reshape energy markets and geopolitical leverage; patience strategies signal how Big Oil adapts to sanctions and political risk.
Big Oil has often employed the “hang around” playbook: secure legal rights to a giant resource — and then, eventually, figure out how to produce it profitably. But few companies have taken it to the extremes of Chevron Corp.
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