Oil giant Chevron confirmed that it would expand operations in Venezuela after US President Donald Trump announced an ambitious deal to develop the nation’s oil reserves and give the Pentagon a stake in the profits.…
5 articles from 4 sources
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It plans to invest US$7 billion over the next five years through its joint venture partnerships in Venezuela.
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For two decades, Chevron stayed while all its major peers quit after former Venezuelan President Hugo Chavez nationalized foreign assets atop the world's largest oil reserves.
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Chris Wright also stressed the importance of fixing Venezuela’s electricity sector.
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US Energy Secretary Chris Wright says that while private oil companies are bringing money to produce the oil, "the benefits, the royalties and the taxes all go to the government of Venezuela and the people of Venezuela".
