Financial Wire

Correction: Market Chatter: Chevron, Shell Advance Venezuela Projects With New Oil, Gas Pacts

-- (Adds the "Market Chatter" moniker as the article is based on a Reuters report.)

Chevron (CVX) and Shell (SHEL) are set to sign Venezuela energy deals on Monday, covering offshore gas and heavy crude areas, Reuters reported Monday, citing three sources familiar with the matter.

Chevron is expected to finalize agreements to hand back control of an offshore gas asset while gaining participation in an extra-heavy crude zone within Venezuela's key oil-producing region, the sources said.

Separately, Shell is poised to take over operations of the Loran offshore gas field under a new pact, the sources added.

Chevron and Shell did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $190.54, Change: $+1.99, Percent Change: +1.06%

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