Chevron and Pentagon Eye Venezuela Oil | Odessa News

Odessa News Today | 2 Min News | The Daily News Now! · Sep 2, 2026 · 1m

Chevron’s poised to expand operations in Venezuela as the Trump administration pushes forward with a bold energy play, including Pentagon involvement and a new joint venture with NABEP — a company tied to a controversial Venezuelan businessman. Energy Secretary Chris Wright is heading to Caracas to seal the deal, which grants the Pentagon a 35% stake and the State Department preferential oil pricing. Despite past legal scrutiny of NABEP’s owner, Alejandro Betancourt, U.S. officials insist he was vetted and compliant. Critics question the legality of long-term contracts under Venezuela’s…