Chevron confirms it will invest billions to expand operations in oil-rich Venezuela

Oil giant Chevron confirmed that it will expand its operations in Venezuela, 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. Chevron, the only U.S. oil company that has a major presence in the country, said Wednesday that it has been assigned additional acreage in the Orinoco Belt, where the company has an established position. Joint venture plans include investing more than $7 billion over the…