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Crude oil production from onshore federal lands reached a record high in 2024, largely driven by increased activity in new mexico's permian basin, while offshore production growth remained.
Oil production growth is slowing due to natural depletion and rising costs, especially in the permian basin, but new federal estimates could offset geological limits. Last year, supermajors reported record oil and natural gas output from the top shale basin, the permian They also spoke of their plans to raise that output even further. Can chinese companies take over chevron’s oil fields
Now, chinese companies entering chevron’s former operations can definitely happen.
