US and global energy firms expand Venezuela oil projects as Chris Wright oversees Caracas signing
US Energy Secretary Chris Wright oversaw the signing of a new package of oil and energy agreements in Caracas on Wednesday, adding fresh detail to the wider US-Venezuela arrangement announced days earlier. The deals involve Chevron, Italy's Eni and GE Vernova, and were presented at a ceremony in the Venezuelan capital alongside interim President Delcy Rodriguez. The agreements are separate from the broader oil arrangement that has already drawn scrutiny over the scale of US access to Venezuelan reserves.According to the supplied material, the new contracts are worth tens of billions of dollars and are aimed at expanding production, increasing... [Continue Reading]
360LiveNews | 03 Sep 2026 05:59 LONDON
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Chevron to invest more than $7bn in Venezuela expansion and new Orinoco acreage
Chevron has said it will invest more than $7bn in its Venezuela joint ventures as it expands its operations in the country's Orinoco Belt. The company said the plan will allow it to double production to about 600,000 barrels per day over the next five years. It also said it has been assigned additional acreage and will extend its Petroindependencia joint venture into two adjacent areas in the Carabobo region.The announcement was made on Wednesday and comes as the company says it remains the only US oil firm with a major presence in Venezuela. Chevron chief executive Mike Wirth said... [Continue Reading]
360LiveNews | 02 Sep 2026 18:30 LONDON
