Chevron Boosts Venezuela Oil Output While U.S. Is Eyeing New Sanctions.

(Bloomberg) -- Chevron Corp. has ramped up output at a key Venezuela oil project to levels not seen in almost a year, offering a thorny reminder of how U.S. sanctions are failing to deliver a knockout of Nicolas Maduro's regime. On paper, PDVSA controls Petropiar as majority owner, but Chevron has kept the oil flowing and helped repair the industrial facilities needed to refine the tar into marketable crude, the people said. [Extracted from the article]