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Chevron Set to Boost Oil Production in Venezuela Amid US Expansion Plans

Guavy AI Editorial Team
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CVX
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The Trump Administration is making moves to expand its control over Venezuela's oil industry. Energy Secretary Chris Wright will lead a group to Venezuela for an announcement from Chevron, which plans to increase its production capacity in the country.

Chevron is the only major U.S. oil company with a presence in Venezuela. The expected expansion and Wright's visit come after the White House announced it would take control of over 65 million barrels of oil reserves through an agreement with North American Blue Energy Partners.

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