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FinanceChevron finalizes deal to expand Venezuela operations with two Orinoco Belt oil fields
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Chevron is finalizing a deal to significantly expand its operations in Venezuela by adding two giant oil fields in the Orinoco Belt. This move is part of a push by former President Donald Trump to ramp up oil production in the South American country. The expansion represents a major increase in Chevron's presence in Venezuela's energy sector, leveraging the country's vast oil reserves. The deal underscores ongoing efforts to boost output from Venezuela's oil industry, which has faced years of decline due to sanctions and underinvestment. The Orinoco Belt is one of the world's largest oil deposits, and adding these fields could substantially increase Chevron's production capacity in the region.
Source report
Chevron is finalizing an agreement that will significantly expand its operations in Venezuela, adding two giant oil fields in the Orinoco Belt. The move is part of a broader push by the Trump administration to ramp up oil production in the South American country.
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Source
businessWestern
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