Venezuela Oil
A man rides past an operating oil pumpjack in Cabimas, Venezuela, Monday, Aug. 31, 2026.
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Oil giant Chevron is expected to soon announce it will expand operations in Venezuela, a U.S. official said. The official, who briefed reporters Tuesday on the expected announcement, said that the company’s officials and Energy Secretary Chris Wright are expected to visit Venezuela on Wednesday where the new investment will be formally unveiled. The official spoke under condition of anonymity under ground rules set by the White House for the call. Chevron is the second-largest U.S. oil company and the only one with a major presence in Venezuela. The official also defended the administration's partnership with North American Blue Energy Partners in an agreement to tap Venezuela's reserves, saying the company was vetted.
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