Chevron Expands in Venezuela Amid US Push for Oil Dominance

Chevron is in talks to expand its operations in Venezuela as part of a broader push by US companies to increase their presence in the Latin American nation's oil industry.

The Houston-based company is negotiating to add two new oil fields to its existing operations, according to people familiar with the matter who asked not to be identified because the talks are not public. Chevron declined to comment on the negotiations.

This comes as the Trump administration negotiates with Venezuelan leaders about taking a significant stake in the nation's oil fields, which are among the largest in the world. Leases lasting up to 100 years on several oilfields are being discussed, according to people familiar with the matter.

The potential deal has little or no historical precedent and comes after US forces seized Nicolás Maduro in January, effectively handing control of Venezuela to his former vice president Delcy Rodríguez, who has since become allied with the Trump administration.