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Venezuela Grants Chevron Two Oil Fields to Boost Output

4/14/2026

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Summary

Story summary

Venezuela is set to award Chevron two additional oil fields, expanding Chevron's presence.
The move aims to revive oil output and attract foreign investment after sanctions and production decline.
Chevron has operated in Venezuela for nearly two decades, with four joint ventures accounting for about 25% of oil output.
The deals signed on April 13, 2026 reflect Venezuela's strategy to boost private investment in its oil industry.

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Story summary

Venezuela is set to award Chevron two additional oil fields, expanding Chevron's presence.
The move aims to revive oil output and attract foreign investment after sanctions and production decline.
Chevron has operated in Venezuela for nearly two decades, with four joint ventures accounting for about 25% of oil output.
The deals signed on April 13, 2026 reflect Venezuela's strategy to boost private investment in its oil industry.