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Oil Giant Chevron Is Expected to Announce It Will Expand Operations in Venezuela, US Official Says
Chevron’s new fields could lift output beyond 400,000 barrels a day as the company prepares to unveil fresh investment with U.S. officials.
- On Tuesday, a U.S. official confirmed that Chevron is finalizing a deal to add two giant oil fields in Venezuela's Carabobo region of the Orinoco Belt, with the company expected to announce the expansion soon.
- Following the White House's Monday confirmation of a North American Blue Energy Partners partnership, Chevron's deal reflects President Donald Trump's strategy to expand U.S. oil investment in Venezuela after former leader Nicolás Maduro's capture enabled negotiations with acting President Delcy Rodríguez.
- Energy Secretary Chris Wright will visit Venezuela on Wednesday to formally unveil the investment, as Chevron, the second-largest U.S. oil company and sole major operator in the country, pursues the expansion.
- The agreement could boost production beyond PetroIndependencia's estimated 400,000 barrels a day, solidifying Chevron's role as Venezuela's leading oil major, with new technology potentially increasing output significantly.
- Chevron's deal is expected to be the largest of several U.S.-backed investment agreements announced in the coming days as the Trump administration accelerates engagement with Venezuela's oil sector.
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Oil giant Chevron is expected to announce it will expand operations in Venezuela, US official says
Oil giant Chevron is expected to soon announce it will expand operations in Venezuela, a U.S. official said.
·New York, United States
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Chevron Nears Deal to Run Two Fields in Venezuela’s Orinoco Belt
Chevron Corp. is finalizing a deal that will significantly expand its operations in Venezuela by adding two giant oil fields in the Orinoco Belt, part of a push by US President Donald Trump to ramp up production in the South American country.
·New York, United States
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Total News Sources66
Leaning Left13Leaning Right6Center39Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 23%
C 67%
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