Chevron Prepares to Expand Operations in Venezuela Amid New Oil Deal

US Oil Giant Chevron is set to expand its operations in Venezuela, according to a US official. This move 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 company's officials and Energy Secretary Chris Wright are expected to visit Venezuela on Wednesday where the new investment will be formally unveiled, said the US official who briefed reporters under ground rules set by the White House. The official spoke on condition of anonymity.