Key Takeaways Chevron gains a head start in Venezuela via joint ventures, boosting long-term reserve potential.Petrobras targets output of 3.4 MMBOE/d by 2028, supported by early projects and rising efficiency.Lower Brent could hit Petrobras dividends, while Chevron's refineries may benefit from cheaper crude.Oil biggies Chevron (CVX) and Petrobras (PBR) are now tied to the same big swing factor: Venezuela. Chevron starts from a stronger position, already producing in the Latin American country through join ...