U.S. oil giant Chevron confirms it will expand operations in Venezuela

Chevron has confirmed an expansion of its operations in Venezuela following an announcement by President Donald Trump. The agreement involves a plan to develop the nation's oil reserves, with the terms of the deal providing the U.S. Pentagon with a stake in the resulting profits.

This development marks a significant shift in U.S. involvement regarding Venezuelan energy resources. By integrating the Department of Defense into the profit structure of these oil operations, the deal establishes a direct link between national security interests and commercial energy extraction in the region.