Chevron set to expand in Venezuela as US energy secretary lands in Caracas

Chevron is expected to announce an expansion of its Venezuelan operations on Wednesday, hours after the country's parliament approved handing Washington control of a fifth of its oil reserves and as US Energy Secretary Chris Wright arrives to sign the agreement.

Venezuela's National Assembly voted to back the 65-billion-barrel oil deal, despite no details being publicly released.

President Donald Trump recently announced a deal to develop Venezuela's oil reserves and give the Pentagon a stake in the profits.

Trump administration justifies agreement as a way to expel Chinese and Russian adversaries from oilfields in ‘our hemisphere’

Oil giant Chevron is planning to expand its operations in Venezuela, a U.S. official said, as part of an ambitious deal to develop the nation’s oil reserves.

Chevron is the second-largest U.S. oil company and the only one with a major presence in Venezuela.

Oil giant Chevron is expected to soon announce it will expand operations in Venezuela, a U.S. official said

Oil giant Chevron is expected to announce it will expand operations in Venezuela, US official says  AP News