Chevron Taps Venezuela Oil Reserves Amid Trump Administration Support

Chevron, in collaboration with the Trump administration, is moving forward with ambitious plans to tap into Venezuela's vast oil reserves.

The move comes as the US government looks to capitalize on opportunities presented by the crisis-hit country's state-owned oil company, Petróleos de Venezuela (PDVSA).

Chevron has reportedly been working closely with the Trump administration to revive the stalled project, which aims to extract 500,000 barrels of oil per day from the Orinoco Belt.