Chevron and Eni agree to expand Venezuelan oil projects
Chevron, Eni and other foreign energy producers have committed to expanding projects in Venezuela to raise oil output. The agreements were signed in Caracas under the oversight of interim President Delcy Rodriguez and US Energy Secretary Chris Wright, days after Venezuela agreed to grant the United States control over a fifth of its oil reserves.
Why it matters
The deals could reshape Venezuela’s oil industry and deepen foreign involvement in its production and governance.
Sources
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Part of the September 3, 2026 brief.