Chevron Expands in Venezuela with U.S. Backing | Chattanooga News

Chevron is set to massively expand its operations in Venezuela, with top executives and Energy Secretary Chris Wright flying in this Wednesday — a move confirmed by a U.S. official. This follows a new White House partnership with NABEP, led by Alejandro Betancourt, which would give the Pentagon a 35% stake and let the State Department buy oil at cost. While officials insist Betancourt was vetted and no laws were broken, analysts are skeptical about Venezuela’s ability to quickly revive production and whether current leadership can legally commit to long-term deals. The U.S. isn’t funding the venture directly, but its backing is seen as vital to attract the investment needed to reshape the region’s energy landscape. 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/c5a958548d9eafa6