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Oil Giant Chevron Is Expected to Announce It Will Expand Operations in Venezuela, US Official Says
Chevron’s new fields could lift output beyond 400,000 barrels a day as the company prepares to unveil fresh investment with U.S. officials.
- On Tuesday, a U.S. official confirmed that Chevron is finalizing a deal to add two giant oil fields in Venezuela's Carabobo region of the Orinoco Belt, with the company expected to announce the expansion soon.
- The geopolitical shift following former leader Nicolás Maduro's capture enabled Chevron to negotiate new fiscal terms with acting President Delcy Rodríguez, aligning with President Donald Trump's push to expand U.S. oil investment in Venezuela.
- Energy Secretary Chris Wright will visit Venezuela on Wednesday to formally unveil the investment alongside Chevron officials, underscoring the administration's commitment to the expansion.
- With investment in fresh equipment and new technology, the new Carabobo fields could substantially increase production beyond the 400,000 barrels a day estimated for Chevron's existing PetroIndependencia joint venture.
- Multiple U.S.-backed investment agreements are expected to follow Chevron's announcement in the coming days, positioning the company's deal as the largest of several initiatives the Trump administration is pursuing in Venezuela's oil sector.
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Associated Press News+24 Reposted by 24 other sources
Oil giant Chevron is expected to announce it will expand operations in Venezuela, US official says
Oil giant Chevron is expected to soon announce it will expand operations in Venezuela, a U.S. official said.
·New York, United States
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Chevron Nears Deal to Run Two Fields in Venezuela’s Orinoco Belt
Chevron Corp. is finalizing a deal that will significantly expand its operations in Venezuela by adding two giant oil fields in the Orinoco Belt, part of a push by US President Donald Trump to ramp up production in the South American country.
·New York, United States
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Chevron nears deal to add two large oil fields in Venezuela's Orinoco Belt - Bloomberg (CVX:NYSE)
Chevron is finalizing a deal that would significantly expand its operations in Venezuela by adding operating rights to two giant oil fields in the Orinoco Belt, Bloomberg reported.
·Ra'anana, Israel
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The oil giant Chevron will soon announce that it will expand its operations in Venezuela, an official from the United States said on Tuesday.
Coverage Details
Total News Sources31
Leaning Left13Leaning Right3Center10Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 38%
12%
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