Chevron is reportedly preparing to announce an expansion of its operations in Venezuela, according to a U.S. official. The announcement is anticipated to be formally unveiled during a visit to Venezuela by Chevron officials and Energy Secretary Chris Wright on Wednesday.
The official, who spoke on condition of anonymity due to White House briefing rules, confirmed the expected development. Chevron, the second-largest U.S. oil company, is currently the only American company with a significant presence in Venezuela.
This move follows the White House's recent confirmation of a partnership with North American Blue Energy Partners, part of President Donald Trump's initiative to engage with Venezuela's oil sector.