Chevron beats Q4 profit estimate, eyes Venezuela investment opportunities
BNN Bloomberg
Chevron’s fourth-quarter profits fell but came in ahead of estimates as it focused on cutting costs and making its operations more efficient to contend with lower crude prices throughout 2025.
The only U.S. oil producer currently operating in Venezuela and now in the geopolitical spotlight after the U.S. capture and removal of former Venezuelan leader Nicolas Maduro this month, Chevron also said on Friday that it was evaluating more opportunities in the country.
Chevron’s adjusted earnings for the three-month period ended December 31 were $1.52 per share, ahead of an LSEG consensus estimate of $1.45 per share.
The figure was down from US$2.06 a year before.
Chevron said that Venezuela holds significant long-term potential.
“We have been a part of Venezuela’s past for more than a century. We remain committed to its present. And we stand ready to help it build a better future while strengthening U.S. energy and regional security,” CEO Mike Wirth said in a statement.
