Chevron Nears Deal for Two Giant Oil Fields in Venezuela

Chevron is on the verge of securing operating rights to two massive Carabobo fields in Venezuela's Orinoco Belt, holding billions of barrels of heavy oil. The sites are located next to acreage already managed by PetroIndependencia, Chevron's joint venture with state-run Petróleos de Venezuela SA.

The deal is part of a series of agreements tied to President Donald Trump's push for increased US investment in Venezuela. Chevron has declined to comment on the negotiations, which are expected to be finalized soon.

Once complete, this will be one of the largest deals made by Chevron in the region. The company is currently the only major oil producer still active in Venezuela, and these new fields could significantly boost its operations in the country.