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Chevron Expansion in Venezuela Extends U.S. Influence Over Oil Riches

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.

Β© Maryorin Mendez/Agence France-Presse β€” Getty Images

Oil infrastructure in Cabimas, Venezuela. Chevron’s expansion is separate from President Trump’s deal for control of oil reserves in the country.
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Trump’s Venezuelan Oil Deal Relies on a Powerful and Divisive Partner

The administration will work with a private Venezuelan oil company that has close ties to the country’s government.

Β© Adriana Loureiro Fernandez for The New York Times

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.
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