WASHINGTON — A senior United States government official, speaking on condition of anonymity in line with briefing rules established by the White House, confirmed Tuesday that American energy giant Chevron is on the cusp of announcing a major expansion of its oil operations in Venezuela. The formal rollout of the new investment initiative is scheduled for Wednesday, when senior leaders from Chevron and U.S. Energy Secretary Chris Wright will travel to Caracas to make the official announcement. As the second-largest oil producer headquartered in the United States, Chevron holds a unique position among American energy firms: it is the only U.S. oil company that maintains a large-scale operational footprint in Venezuela, which holds the world’s largest proven crude oil reserves. The upcoming announcement comes just one day after the White House formally confirmed a new partnership between U.S. authorities and Canada-based North American Blue Energy Partners. This collaboration aligns directly with former President Donald Trump’s broader policy push to unlock development of Venezuela’s vast underutilized oil reserves, a priority that has shaped U.S. energy and foreign policy toward the South American nation in recent years.
Oil giant Chevron is expected to announce it will expand operations in Venezuela, US official says
