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business1d ago
Key facts: Chevron signs gas supply deal; Mizuho raises price target
- Chevron signs a five-year gas supply deal to feed the Kesem power plant with 800 million cubic meters annually.
- Mizuho raises Chevron price target to $206 per share, up from $204.
- The deal is tied to a financing plan worth €1.18 billion, supporting the gas supply.
- Chevron is described as the only major U.S. firm with Venezuelan joint ventures showing potential for oil production gains.
- Despite potential gains, substantial investments and stability are required for meaningful increases.
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