Chevron Is in Talks to Expand in Venezuela, a Potential Win for Trump

Chevron is in advanced talks to significantly expand its operations in Venezuela, and a deal could be announced as early as next week, according to people familiar with the negotiations between the oil company and Venezuelan officials.

Any new investment by Chevron, the second-largest U.S. oil company and the only one with a major presence in Venezuela, would bolster the country’s efforts to revitalize its ailing oil industry and struggling economy.

Such a deal would also be a significant win for the Trump administration, which has been pushing American companies to play a bigger role in Venezuela’s energy industry after U.S. forces seized the country’s leader, Nicolás Maduro, in January.

Chevron’s negotiations over new investments in Venezuela were reported earlier by The Wall Street Journal.

Article source: https://www.nytimes.com/2026/08/28/business/energy-environment/chevron-venezuela-oil-deal.html