venzuela

🚨 Urgent: The U.S. company “Chevron” and other American energy companies are nearing an agreement to invest billions of dollars in Venezuela’s oil fields. Chevron already operates three joint projects with Venezuela’s national oil company (PDVSA), and it is planning to add two more heavy-oil fields to its business portfolio. Meanwhile, “Halliburton” is holding similar talks, indicating that the deal goes beyond crude oil ownership to include drilling operations and the infrastructure needed to restart production. The plan includes leasing specific fields to U.S. companies and routing the produced oil to the U.S. market. Venezuela has the world’s largest proven oil reserves—surpassing those of Saudi Arabia—yet years of underinvestment have left a large portion of these resources undeveloped. And any increase in production rates will take years, since aging wells, pipelines, and export systems all need rehabilitation and construction first.
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