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Chevron Expands Operations in Venezuela Amid Trump-Backed Oil Deal

Guavy AI Editorial Team
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CVX
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US oil giant Chevron has confirmed it will expand operations in Venezuela after President Donald Trump announced an ambitious deal to develop the nation's oil reserves.

The news comes just days after Trump revealed a plan to give the Pentagon a stake in the profits from Venezuelan oil development.

Chevron's decision marks a significant shift for the company, which had previously been cautious about operating in Venezuela due to US sanctions.

The exact details of Chevron's expanded operations are not yet clear, but the move is seen as a major boost for the Venezuelan economy, which has struggled under years of economic crisis and oil price volatility.

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