Chevron Expands in Venezuela with Pentagon Stake | Miami News

Chevron is poised to announce a major expansion of oil operations in Venezuela, backed by a surprising U.S. government partnership that includes the Pentagon taking a 35% stake in a new venture — all part of President Trump’s push to revive Venezuela’s oil reserves. The deal, led by North American Blue Energy Partners and involving controversial Venezuelan businessman Alejandro Betancourt (under scrutiny for past money-laundering allegations but cleared by U.S. officials), raises serious questions: Can this shaky alliance actually revive Venezuela’s oil output? And is a 100-year contract for 17 fields — without constitutional approval — legally sound? Critics warn it could take years to see results, while the administration insists this strategic move is essential for stability and democracy — even if it means working with existing, questionable structures. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/7893dd012f31f85f