Chevron and Halliburton Near Billion-Dollar Deals in Venezuela Oil Industry
Chevron and Halliburton are close to signing deals worth billions of dollars in Venezuela's oil industry. The agreements come as the Trump administration pushes U.S. energy companies to help rebuild Venezuela's oil sector.
Chevron is reportedly near adding two heavy-oil fields to its Venezuelan portfolio, expanding its existing operations in the country. Chevron already operates three joint ventures with Petróleos de Venezuela, S.A., making it the only major U.S. oil producer with an active presence in Venezuela.
Halliburton is discussing a deal to supply equipment and services to Venezuelan oil producers. This could give Halliburton an opportunity to expand its presence in a market requiring substantial investment to restore and develop production capacity.