Oil giant Chevron is confirming that it will expand its operations in Venezuela, just days after President Donald Trump announced an ambitious deal to develop the nation’s oil reserves and give the Pentagon a stake in the profits.
Chevron said Wednesday that it has been assigned additional acreage in the Orinoco Belt, where the company has an established position. Joint venture plans include investing more than $7 billion over the next five years, more than doubling production to approximately 600,000 barrels a day compared to 2026.
Its to try and quell the masses imo. People hate when gas prices go up but as long as there’s “a plan” put forward it will satisfy most people cuz they think something is being done.
Heard we’ll completely run out of our oil reserves in like 46 weeks so idk how a 5 year plan is going to address that lol