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Chevron Expands Operations in Venezuela Amid Trump Deal

Guavy AI Editorial Team
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CVX
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Oil giant Chevron is expanding its operations in Venezuela after President Donald Trump announced an ambitious deal to develop the nation's oil reserves and give the Pentagon a stake in the profits.

Chevron, the only U.S. oil company with a major presence in Venezuela, has been assigned additional acreage in the Orinoco Belt where it already operates.

The company plans to invest over $7 billion over the next five years and aims to more than double its current production to about 600,000 barrels per day.

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