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Chevron Joins Forces with Trump Admin on Venezuela Oil Extraction Plans

Guavy AI Editorial Team Published September 2, 2026

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CVX

Chevron has announced plans to move forward with ambitious oil extraction projects in Venezuela, in collaboration with the Trump administration.

The joint effort aims to increase oil production in the country, which has been heavily impacted by US sanctions and a struggling economy.

According to reports, Chevron will invest $800 million in the project, which is expected to generate significant revenue for both parties involved.

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