Chevron Expands in Venezuela Amid Controversy Over US-Led Oil Deal

US oil giant Chevron is set to expand its operations in Venezuela, according to a US official who spoke under condition of anonymity.

The expansion comes after the White House confirmed it is partnering with North American Blue Energy Partners (NABEP) as part of President Donald Trump's push to tap into Venezuela's oil industry.

Chevron will formally unveil its new investment in Venezuela on Wednesday, when company officials and Energy Secretary Chris Wright are expected to visit the country.

The US administration has defended its decision to partner with NABEP, owned by Venezuelan businessman Alejandro Betancourt, who has faced criminal investigations for alleged money laundering in Spain and Switzerland.