Venezuela is drafting regulations requiring oil and gas companies to generate their own electricity. The mandate aims to insulate energy production from frequent blackouts and reduce strain on the national grid.
Over 95% of Chevron’s wells in the Orinoco Belt currently rely on the public power system. Grid failures occur daily across the region.
An April 23 outage disrupted 827 Chevron wells. This specific failure led to a decrease in total production.
Chevron must now make substantial investments in private power generation to ensure operational stability.