Chevron Set to Expand Operations in Venezuela Amid Trump's Oil Deal

US officials are expecting oil giant Chevron to expand its operations in Venezuela, just days after President Donald Trump announced an ambitious deal to develop the nation's oil reserves.

The company is planning to increase its investment in Venezuela with a new project that will be formally unveiled this week. According to a US official, Chevron's officials and Energy Secretary Chris Wright are set to visit the country on Wednesday to finalize the plans.

The move comes after President Trump announced a deal to develop Venezuela's oil reserves and give the Pentagon a stake in the profits. While details of the deal have not been disclosed, it is expected to bring significant economic benefits to the country.