Chevron nears deal to expand oil operations in Venezuela

Chevron is in advanced talks with Venezuelan officials to expand its oil operations in the country. A deal could be announced in the coming weeks. The U.S. energy giant already runs three joint ventures with Venezuela's state oil company, PdVSA, and is the only major American oil firm working there. The expansion would add two new heavy-oil fields to its current operations and could involve billions of dollars in new investment. It could also allow Chevron to restart crude oil exports to the United States. The Trump administration has encouraged U.S. energy companies to invest more in Venezuela. Other companies, including Halliburton, have also been in talks about similar investments.