Project
PetroPiar
ActiveOrinoco BeltChevron
Extra-heavy oil project in the Orinoco Belt with blending and export relevance.
Last updated
Mar 16, 2026
Confidence
Medium
Sources
6
Type
Field
Production estimate
112 kb/d
Dec 1, 2025
Export route
José Terminal
Export Route
Ownership split
Chevron — 30%
PDVSA — 70%
Regulatory status
1 active items
Infra dependencies
2
linked assets
Overview
Operational summary
Extra-heavy oil project in the Orinoco Belt with blending and export relevance.
Production
Recent production points
| Date | Value | Unit | Confidence | Notes |
|---|---|---|---|---|
| Dec 1, 2025 | 112 | kb/d | Medium | — |
| Nov 1, 2025 | 110 | kb/d | Medium | — |
| Oct 1, 2025 | 108 | kb/d | Medium | — |
Infrastructure
Linked assets
| Asset | Type | Link | Status | Capacity |
|---|---|---|---|---|
| José Terminal | Terminal | Export Route | Active | 1,000 kb/d |
| PetroPiar Upgrader | Upgrader | Processing | Active | 210 kb/d |
Regulation
Regulatory exposure
| Instrument | Type | Date | Impact | Status |
|---|---|---|---|---|
| OFAC General License – Venezuela Operations | License | Nov 15, 2025 | Operations subject to current license conditions. | Operations |
Weekly signals
Recent linked signals
SanctionsDec 15, 2025
License framework remains key for PetroPiar
Regulatory permissions remain central to operating continuity.
ExportsDec 8, 2025
PetroPiar export flows hold steady
Export-linked operations remained stable in the latest observed period.
Sources
Source documents
Primary SourceDec 1, 2025
Chevron · Company Update
Chevron operational note on PetroPiar (seed)
Regulatory TextNov 15, 2025
Facts
Project facts
- Basin
- Orinoco Belt
- Operator
- Chevron
- Jurisdiction
- Venezuela
- Project type
- Field
- Ownership
- Chevron — 30% PDVSA — 70%
Linked entities
Context rail
Participants
Chevron
PDVSA
Infrastructure
José Terminal
PetroPiar Upgrader
Basin
Orinoco Belt
Regulatory snapshot
Current exposure
- Active constraints
- 1
- Latest instrument
- OFAC General License – Venezuela Operations
- Exposure level
- Linked
Recent change
Latest visible move
- Last signal
- License framework remains key for PetroPiar
- Last data update
- Mar 16, 2026
- Latest production point
- 112 kb/d · Dec 1, 2025