Venezuela oil venture commitments on the line

|About: Chevron Corporation (CVX)|By:, SA News Editor

Foreign partners of Venezuela's PDVSA are facing pressure from the state-run oil firm to declare whether they will continue as minority stakeholders in Orinoco Belt projects following U.S. sanctions, Reuters reports.

France's Total (NYSE:TOT), Norway's Equinor (NYSE:EQNR), Russia's Rosneft (OTCPK:RNFTF) and U.S.-based Chevron (NYSE:CVX) are facing difficulties getting cashflow out of the country, straining their ability to continue their JVs output and exports.

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