Chevron unveils $7bn Venezuela deal as US claims a fifth of its oil

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  "detected_at": "2026-09-02T07:55:38+00:00",
  "company": {
    "name": "Chevron",
    "domain": "chevron.com"
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  "data": {
    "url": "https://www.euronews.com/business/2026/09/02/chevron-set-to-expand-in-venezuela-as-us-energy-secretary-lands-in-caracas",
    "title": "Chevron unveils $7bn Venezuela deal as US claims a fifth of its oil - Euronews.com",
    "assets": "oil fields",
    "excerpt": "America's second-largest oil company has announced it will develop two additional oil fields in Venezuela's Orinoco Belt, more than doubling its output in five years, in a deal worth $7 billion. The joint venture between Chevron and Petroindependencia, in which Chevron has a 49% stake, will develop two greenfield sites near existing work and lift output to around 600,000 barrels per day, according to a company press release. US Energy Secretary Chris Wright landed in Venezuela late Tuesday to unveil fresh investments, with Chevron making the first corporate move to follow the agreement that just cleared Venezuela's National Assembly. Chevron is the only major American producer to have stayed in Venezuela since Hugo Chávez completed the nationalisation of the industry in 2007, a move that drove Exxon and ConocoPhillips out. After landing in Caracas, Wright immediately addressed the media and stated that \"as large investments flow into this country that creates more jobs which pushes wage pressure up and creates opportunity for Venezuelans' prosperity.\" The announcement lands alongside a much bigger prize, a separate deal giving Washington control of a fifth of Venezuela's oil through a different operator entirely. Venezuelan lawmakers approved the agreement by a show of hands late Tuesday, though some opposition members abstained, saying they had not seen the terms. \"We need...",
    "summary": "Chevron announced a $7 billion joint venture with Petroindependencia to develop two additional oil fields in Venezuela's Orinoco Belt, aiming to more than double its output in five years.",
    "location": "Orinoco Belt, Venezuela",
    "planning": true,
    "image_url": "https://images.euronews.com/articles/stories/09/89/81/89/1200x675_cmsv2_bf90aa90-c596-511b-93da-616aa9815624-9898189.jpg",
    "confidence": 0.9,
    "assets_tags": [
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      "production"
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    "published_at": "2026-09-02T07:55:38Z",
    "location_data": [
      {
        "region": "South America",
        "country": "Venezuela",
        "continent": "Americas",
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    ],
    "article_sentence": "America's second-largest oil company has announced it will develop two additional oil fields in Venezuela's Orinoco Belt, more than doubling its output in five years, in a deal worth $7 billion.",
    "amount_normalized": 7000000000
  }
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