Chevron has announced plans to broaden its presence in Venezuela, following President Donald Trump’s proposal to unlock the country’s oil potential and grant the Pentagon a share of the profits. The U.S. oil major said it will increase drilling, exploration and infrastructure projects in the region, positioning itself to benefit from the expected surge in production. Trump’s initiative aims to revive Venezuela’s struggling oil industry while creating a new revenue stream for the U.S. military, sparking debate over the geopolitical and economic implications of the partnership.
Oil giant Chevron confirmed that it will expand operations in Venezuela after President Donald Trump announced an ambitious deal to develop the nation's oil reserves and give the Pentagon a stake in the profits.
