Chevron Expands Operations in Venezuela Amid US-Led Oil Development Deal

Oil giant Chevron is reportedly planning to expand its operations in Venezuela, according to a US official. The expected announcement comes just days after President Donald Trump announced an ambitious deal to develop the nation's oil reserves and give the Pentagon a stake in the profits.

The official stated that Chevron's officials and Energy Secretary Chris Wright are set to visit Venezuela on Wednesday to formally unveil the new investment.

This development is significant, as it marks a major expansion of Chevron's presence in the country. The deal is part of President Trump's efforts to revive the Venezuelan oil industry and increase US influence in the region.