Chevron to invest $7B in Venezuela, doubling output, deepening U.S. oil foothold

Chevron, the last major U.S. oil producer in Venezuela, plans a $7 billion investment to more than double its production there, extending U.S. influence over the country's oil reserves. The move signals a strategic bet on Venezuela's resources amid ongoing sanctions and political uncertainty, and could shift regional energy dynamics. The scale of the investment and its timing suggest a calculated expansion despite operational and geopolitical risks.