Chevron’s plans to increase its crude oil exports from Venezuela have hit a snag, with the sanctioned South American country unable to bear the cost of dredging a key oil export inlet. Chevron’s Venezuela hopes include ramping up crude oil exports from the sanctioned country—but in order to do that, Lake Maracaibo needs to be dredged. And Venezuela will not purchase the necessary equipment to do the dredging, according to a letter Venezuela sent to Dutch shipbuilder Royal IHC, citing limited funds. Chevron paid for a measurement…
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