Chevron’s Bold Move in Venezuela | Lubbock News

Chevron’s poised to expand in Venezuela amid a surprising U.S. alliance with NABEP, a company tied to controversial businessman Alejandro Betancourt—despite his past money-laundering probes. The White House backs the deal, which would see the Pentagon own 35% of a new venture and the State Department buy 20% of oil at cost, without direct U.S. cash investment. Analysts question Venezuela’s ability to ramp up production and the legality of a century-long oil lease under an acting president, while the administration insists Betancourt passed scrutiny and no U.S. laws were broken. This high-stakes energy play could reshape global oil markets—if it survives political and operational hurdles. 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/54bd926640eff56e