Chevron set to resume oil exports from Saudi Arabia and Kuwait

Chevron is set to resume oil exports next month from a long-dormant operation it shares with the governments of Saudi Arabia and Kuwait, Report informs, citing foreign media.

The 80K bbl/day joint venture has been inactive since 2015 because of disputes between the Saudis and Kuwaitis over land use and environmental permits.

Saudi officials have said they would balance any increased production from the venture with reductions elsewhere.

Although OPEC+ reached an agreement to cut the output by 9.7 million barrels a day in May-June, on June 6, the deal was extended until July 1.