Chevron and Halliburton are nearing billion-dollar deals to invest in Venezuelan oil

Yahoo Finance ^ | 08/30/2026

[SeekAndFind]

Chevron Corp. (CVX) and other U.S. energy companies are reportedly moving closer to deals that could bring billions of dollars of investment into Venezuela's oil fields.

While Chevron is nearing an agreement to expand its operations in the country, Halliburton Co. (HAL) is reportedly in talks to provide equipment to Venezuelan oil producers, as the Trump administration pushes U.S. companies to help build the nation's oil industry.

Chevron, Halliburton Eye Venezuela Opportunities

Chevron could add two heavy-oil fields to its Venezuelan portfolio under the potential agreement, The Wall Street Journal reported, citing people familiar with the matter.

The oil major already operates three joint ventures with Venezuela's state oil company PdVSA and remains the only major U.S. oil company active in the country.

Halliburton, one of the largest U.S. oil-field-services companies, is also considering bringing its equipment to oil producers in Venezuela, according to the report.

Executives from several oil-and-gas companies are expected to sign production deals in Caracas next week. Energy Secretary Chris Wright is also expected to travel to Venezuela.

Billions Needed To Develop Oil Fields

Many of the fields being offered by Venezuela are "greenfields," meaning they often lack infrastructure or electricity. Developing those fields into productive oil operations would require billions of dollars in investment.

The discussions are taking place as the Trump administration negotiates with Venezuelan leaders over a significant stake in the country's oil fields, which are among the world's largest. Bloomberg reported that leases of up to 100 years are being considered for several of the oil fields under discussion.

The potential agreements follow the U.S. seizure of Nicolás Maduro in January, which effectively handed control of Venezuela to his former vice president Delcy Rodríguez, who has since become allied with the Trump administration.

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TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: chevron; halliburton; heavycrude; oil; opec; venezuela

[butlerweave]

Remember what Hugo Chavez did , grabbed everything

[ckilmer]

Remember what Hugo Chavez did , grabbed everything
/////
and turned it into sh-t. because he’s a communist and that’s what communists do.

[bray]

Bringing it back from the Communist hole it has been for the last decade. NYC wants to become Venezuela.

[VanShuyten]

After all this time under commie control, I’m sure it will take heavyweights like those two to make extraction of Venezuelan oil usefull.

[FrankRizzo890]

There’s money to be made in oil and the big hitters are stepping up to make it. I see this as a good sign.

[healy61]

President Trump needs to rename New York City. It can be called New Venezuela.

[DIRTYSECRET]

The military should be disarmed. Turn them into a domestic meals on wheels.

[DeplorableTrumpSupporter]

Venezuela is going to become great again. They need to privatize their oil company. I’m glad we are helping them.

[DUMBGRUNT]

—” I see this as a good sign.”

Once the infrastructure is in place, it cannot be removed.

Then the locals suddenly nationalise it...

The US government brokered the deal; the US taxpayers will pay for the loss...

No mention of any other bidders on this “deal.”
Why is that?

It appears that the “deal” is between the US Gov and CVX/HAL.
The US holds the bag.

“The recent U.S.–Venezuela oil agreement announced by President Donald Trump and interim President Delcy Rodríguez was structured as a direct, negotiated partnership rather than a public competitive auction.”

“History does not repeat itself, but it rhymes”

[deport]

And the BEAT goes on. Enjoy your 3 score and 10 as best
you can. Plan for the future of your siblings and hope it
becomes reality. For sure history is changing as new items
become a part of the living culture. I’m hoping to make it
four score and six this coming December.

[Dan in Wichita]

Chevron and Halliburton are experienced operators. Since January, they have been evaluating conditions in Venezuela and now believe there is profit potential, backing that conviction with billions of dollars. This is welcome news to the United States.

[bray]

Compare this to the billions pourded down the solar hole with no return.

[Danie_2023]

“”Chevron Corp. (CVX) and other U.S. energy companies are reportedly moving closer to deals that could bring billions of dollars of investment into Venezuela’s oil fields.””

***

So..... what happens if/when the commies are allowed to “re-take over” Venezuela? Deja vu? US oil companies lose again? Which means US taxpayers, by extension, get the ‘ream’ again, good & plenty? Asking for a friend.

Delcy Eloína Rodríguez Gómez has been allowed to remain as the president of Venezuela, and last I checked...

Delcy is still a communist.

[jagusafr]

This is just the yo-yo effect that Venezuela has seen over and over again. Perez Jimenez was a dictator, Carlos Andres Perez was a socialist, the United Fruit corruption continued under other names and in other fields in every Latin American country. Chavez was the unavoidable consequence of the corrupt getting richer, as was Noriega in Panama. Haliburton, Brown & Root, etc. have been paying people off and making billions for 100 years in Latin America. I don’t trust any of them.