U.S. Accelerates Plans to Boost Venezuela's Oil Output

The U.S. is in discussions with Chevron, other oil producers, and service providers to rapidly increase Venezuela's crude production. Officials plan to deploy SLB, Halliburton, and Baker Hughes to upgrade outdated equipment and rejuvenate old drilling sites, as reported by Bloomberg News.

The United States is engaging in talks with major industry players like Chevron and oilfield service providers to expedite an increase in Venezuela's crude oil production, Bloomberg News reported on Saturday. Senior administration officials stated that these discussions highlight efforts to stimulate Venezuela's economically vital oil industry.

Specifically, there are plans to deploy prominent companies such as SLB, Halliburton, and Baker Hughes. These firms are expected to address the challenges of outdated equipment and to revitalize older drilling sites, thus enhancing the efficiency of Venezuela's oil production infrastructure.

Despite these ambitious plans, Reuters has not yet been able to independently verify the details of the Bloomberg report.

(With inputs from agencies.)