Chevron (CVX) CEO says company is in discussions with Iraq and Libya to look at existing producing fields and exploring opportunities - conference call

• Can take another 100,000 barrels per day of Venezuelan crude in its refineries.
• Chevron is refining about 50k bpd of Venezuelan oil in Mississippi.
• Would like more exposure to chemicals sector.

Chevron's CEO highlights ongoing discussions with Iraq and Libya about potential opportunities in existing oil fields, indicating the company is looking to expand its operations. This signals a strategic pivot that could increase production capacity and improve supply chain resilience, particularly as the firm also aims to enhance its position in the chemicals sector. Overall, these moves may positively affect Chevron's revenue outlook and reinforce its competitiveness in an evolving energy market.