Chevron Could See $700 Million-a-Year Boost From Venezuelan Oil

Chevron Corp. could grow its cash flow by as much as $700 million a year from increasing oil production in Venezuela as the Trump administration seeks to control the South American country’s crude supplies, one analyst says.

Chevron, the only US oil major currently operating in Venezuela, has a “differentiated opportunity among peers to increase production,” Jason Gabelman, an analyst at TD Cowen wrote in a note Friday. Its efforts could add between $400 million and $700 million a year, representing about 1% to 2% of the company’s cash flow from operations, he said.