WASHINGTON—Chevron and other US energy companies are close
to finalizing deals to invest billions of dollars in Venezuela's oil fields,
according to a report published by The Wall Street Journal.
The potential agreements would represent a significant step
forward for the Trump administration's strategy toward Venezuela's energy
sector, after months of slow-moving negotiations.
The eventual arrival of new US investments could help revive
Venezuela's oil production. Venezuela possesses one of the world's largest
crude oil reserves, and its energy sector has faced years of operational,
financial, and infrastructure challenges.
For the Trump administration, the agreements would represent
a major economic and geopolitical achievement, expanding the participation of
US companies in the Venezuelan oil industry and strengthening Washington's
influence over one of the Western Hemisphere's leading oil producers.
Chevron already operates in Venezuela under the appropriate
US authorizations. The arrival of new investments and companies could mark a
new stage in the relationship between Washington and Caracas and reshape the
landscape of the Venezuelan oil industry.
The agreements are still under negotiation, so their final
terms, investment amounts, and operating conditions will depend on the
agreements that are ultimately formalized.