Archive · 2 Sep 2026
Trump-Backed Oil Deal Set to Expand Chevron’s Venezuela Operations
Chevron is an oil company that may be allowed to do more work in Venezuela.
The plan is backed by Donald Trump.
It would reportedly give Chevron rights to 17 oil fields for 100 years.
Those fields are said to contain 65 billion barrels of oil reserves.
Analysts are not sure the agreement will quickly increase Venezuela’s oil production.
They think bringing the oil industry back could take years.
They also question whether Delcy Rodríguez has the legal power to approve such a long agreement.
Future Venezuelan or American governments might also try to cancel or change it.
Chevron is set to expand its operations in Venezuela under a Trump-backed oil agreement.
The agreement would reportedly give Chevron 100-year rights over 17 oil fields.
The fields are described as holding reserves of 65 billion barrels.
Analysts doubt Venezuela’s oil production can be revived quickly, saying it could take years.
Questions remain over Delcy Rodríguez’s legal authority and whether future governments could overturn the deal.
- Who
- Chevron, Delcy Rodríguez, Donald Trump, and analysts cited in the report.
- What
- A Trump-backed agreement would expand Chevron’s Venezuela operations and reportedly grant 100-year rights over 17 oil fields.
- Where
- Venezuela.
- Why
- The agreement is intended to support Chevron’s expanded operations and the revival of Venezuela’s oil production.
Agreement Backers
Skeptical Analysts
Potential to expand oil operations
Agreement Backers
The agreement would allow Chevron to expand its operations in Venezuela and work across 17 oil fields.
Skeptical Analysts
Analysts say the agreement may not quickly restore Venezuela’s oil production, which they believe could take years.
Legal authority
Agreement Backers
The deal reportedly grants Chevron 100-year rights over fields containing 65 billion barrels of reserves.
Skeptical Analysts
Analysts question whether acting President Delcy Rodríguez has the legal authority to grant rights lasting 100 years.
Long-term durability
Agreement Backers
The agreement is presented as a long-term arrangement for Chevron’s Venezuelan operations.
Skeptical Analysts
Analysts question whether future Venezuelan or American administrations would overturn the agreement.
- Company
- Chevron
- Country
- Venezuela
- Agreement backing
- Backed by Donald Trump
- Oil fields
- 17 fields
- Reported rights period
- 100 years
- Reported reserves
- 65 billion barrels
- Production outlook
- Analysts say reviving production could take years