What specific oil deal did Venezuela's National Assembly approve, and who is the U.S. company involved?

Venezuela's ruling party-dominated National Assembly approved an unprecedented oil deal granting the U.S. access to a fifth of Venezuela's oil reserves through a 100-year lease for 17 oilfields awarded to the private U.S. oil firm North American Blue Energy Partners (NABEP).

Who is traveling to Caracas to sign the agreement, and what role is Chevron expected to play?

U.S. Energy Secretary Chris Wright will travel to Caracas to sign the agreement with a private entity on Wednesday, and Chevron is set to announce expanding its operations in Venezuela.

Venezuela's Assembly Backs Oil Deal with U.S.

Sep 1, 2026

Venezuela's National Assembly approved a major oil deal granting U.S. firms access to reserves, paving the way for Chevron's operational expansion ahead of the U.S. Energy Secretary's visit.

reuters

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