The state is considering extending the life of its last nuclear power plant, Diablo Canyon, and allowing construction of new reactors to help meet its clean energy goals.
Established nuclear plants like Diablo Canyon in California tend to produce relatively affordable power.
The state is considering extending the life of its last nuclear power plant, Diablo Canyon, and allowing construction of new reactors to help meet its clean energy goals.
A private oil company has struck a deal with the Trump administration to develop 17 areas in Venezuela, an effort that experts say will take years and billions of dollars.
The U.S. energy giant, which stayed in the country after other Western companies left, will invest $7 billion in the country to more than double its production there.
The Trump administration’s deal with a private oil company to increase oil production in the South American country could take many years to come to fruition.
Venezuela is believed to have one of the world’s largest reserves of oil but it produces very little oil because of mismanagement, corruption and U.S. sanctions.
The president said an agreement between the countries covered more than 65 billion barrels of reserves. A U.S. official said it would involve a partnership with a private company.
An oil refinery in Punto Fijo, Venezuela, in 2021. Venezuela’s president, Delcy Rodríguez, said a U.S. oil deal would have a “significant impact on our nation’s revival.”
Oil companies and governments are consuming their once vast stockpiles as Iran and the United States continue to struggle for control over the Strait of Hormuz.
A Chevron-chartered oil tanker was anchored near Maracaibo, Venezuela, in February. Chevron is the only U.S. oil company with a major footprint in the country.
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