Chevron Nears Deal for Venezuela Oil Fields Amid Trump Administration Push

Chevron is reportedly nearing a deal to operate two giant oil fields in Venezuela's Orinoco Belt, according to a Bloomberg report. This comes after U.S. President Donald Trump announced that his administration has signed a new agreement with Venezuela, calling it 'one of the BIGGEST OIL DEALS IN HISTORY.'

The oil fields are located near a large area already operated by Chevron through its PetroIndependencia joint venture with Venezuela's state-owned oil company, PDVSA. The deal is expected to be the biggest among several agreements likely to be announced in the coming days.

Chevron shares have gained more than 2% in the overnight session and over 35% so far this year. The company will report its third-quarter earnings results at the end of October, with some retail investors expressing bullish sentiment on Stocktwits.