Chevron is expanding in Venezuela as Trump pushes U.S. oil companies back into the country with 65 billion barrels up for grabs

Oil giant Chevron is planning to expand its operations in Venezuela, a U.S. official said Tuesday, just days after President Donald Trump announced an ambitious deal to develop the nation’s oil reserves and give the Pentagon a stake in the profits.

The official, who briefed reporters on the expected announcement, said 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 on 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. Chevron did not immediately respond to a request for comment.

The announcement comes after the White House confirmed on Monday it is partnering with North American Blue Energy Partners (NABEP) as part of President Donald Trump ’s push to tap into Venezuela’s  Read Entire Article