Chevron (CVX.N) and other U.S. energy companies are nearing an agreement to invest tens of billions of dollars in Venezuelan oilfields, sources said. The deal would expand Chevron's long-standing operations in the country and could add two additional heavy oilfields to its portfolio. Chevron currently runs three joint ventures with Venezuela's state oil company PDVSA and is the only major U.S. oil firm still operating in-country. Sources also said Halliburton (HAL.N) is in talks to deploy its fu

2026-08-28

Chevron (CVX.N) and other U.S. energy companies are nearing an agreement to invest tens of billions of dollars in Venezuelan oilfields, sources said. The deal would expand Chevron's long-standing operations in the country and could add two additional heavy oilfields to its portfolio. Chevron currently runs three joint ventures with Venezuela's state oil company PDVSA and is the only major U.S. oil firm still operating in-country. Sources also said Halliburton (HAL.N) is in talks to deploy its full equipment suite to provide services to Venezuelan producers.