U.S. Eyes Venezuela Oil Boost with Chevron & Others

The U.S. is in discussions with Chevron and other companies to increase Venezuela's crude production. The plan involves using U.S. equipment and expertise to revitalize drilling operations. Modern techniques could significantly raise production levels, helping to stabilize the oil market.

The United States government is actively engaged in discussions with Chevron and other notable crude oil producers, alongside major oilfield service providers, to swiftly elevate Venezuela's oil production capabilities. Bloomberg News reported these developments, citing insights from senior administration officials.

The discussions involve deploying industry giants like SLB, Halliburton, and Baker Hughes to repair aging equipment and revitalize dormant drilling sites, facilitating a modern production surge. Efforts aim to increase Venezuelan output by hundreds of thousands of barrels in the short term.

While Reuters was unable to verify the report independently, neither the White House nor the companies involved provided immediate comments. President Trump has expressed a clear intention to amplify oil production in Venezuela, especially following recent political developments in the country.

(With inputs from agencies.)