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Chevron is in talks with Venezuela to seek operating rights for two additional oil fields to expand its local operations.
Chevron, currently the only major U.S. oil company still active in Venezuela, has established a joint venture with the national oil company there and now accounts for approximately one-fifth of the country's total oil production. This move is the latest development in the deep involvement of U.S. energy interests in the Latin American oil-producing nation, with other companies such as SLB and Hunt Oil Co. also having signed contracts with the Venezuelan government this month.
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