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U.S. Oil Giants Eye Venezuela Boom | US News
Big moves are brewing in U.S. energy as Chevron and others eye multibillion-dollar investments in Venezuela’s oil fields—after years of hesitation. With Venezuela holding some of the world’s largest reserves, companies are now pushing forward, seeking legal certainty and stability. While Exxon and Conoco still wait for compensation from 2007’s nationalization, Hunt Oil has already struck a deal to produce Venezuelan crude, becoming the first U.S. firm to do so. Meanwhile, Washington and Caracas are reportedly negotiating a major U.S. stake in key fields with 90 billion barrels of proven…
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