Which companies are set to sign energy agreements in Venezuela, and what is the broader context of these deals?

Chevron, ENI, KEO Capital, and Primavera are among the companies set to sign energy agreements in Venezuela as soon as Wednesday. These pacts are part of Venezuela’s sweeping oil reform approved in January, which involves migrating dozens of existing energy contracts to new terms through negotiations with the oil ministry and state oil company PDVSA.

What specific investment and production commitments has Chevron announced for its operations in Venezuela?

Chevron plans to invest more than $7 billion to more than double crude production in Venezuela to about 600,000 barrels per day over the next five years, as part of its strategy to expand joint ventures with PDVSA.

Chevron, ENI, KEO Capital, Primavera Set to Sign Energy Pacts in Venezuela

Sep 2, 2026

Chevron, ENI, and investors plan to sign energy agreements in Venezuela under new reforms, with Chevron investing over $7 billion to double crude production to 600,000 barrels per day within five years.

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