Why This Oil Giant Keeps Betting on Countries Everyone Else Avoids
Chevron's bet on Venezuela looks like it is finally paying off, and now it's investing in the war-torn Middle East.
Overview
The energy sector is known for its volatility, with oil and natural gas prices often rising and falling dramatically. Right now, commodity prices are high, thanks to the still unfolding geopolitical conflict in the Middle East. And what does integrated energy giant Chevron (NYSE: CVX) do? It starts to invest in the Middle East. Here's why Chevron has a habit of investing in countries others avoid.
Chevron is one of the world's largest energy companies, with a portfolio that includes upstream (production), midstream (pipeline), and downstream (chemicals and refining) assets. Its portfolio is also geographically diverse, with assets spread across the globe. While investors tend to focus on the near-term ups and downs in oil prices, Chevron doesn't.
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Originally published at www.fool.com.