Free daily briefing on global business news.
Executives from several oil-and-gas companies are set to sign production deals in Caracas next week, with Energy Secretary Chris Wright expected to attend
The El Palito refinery of the Venezuelan state oil company PDVSA. (Jesus Vargas/picture alliance via Getty Images)
Chevron $CVX and Halliburton $HAL are close to deals that would commit billions of dollars to Venezuelan oil fields, according to The Wall Street Journal. The agreements would position President Trump for a diplomatic and energy win after months of slow-moving negotiations.
Chevron is on the verge of a deal to bring two heavy-oil fields into its Venezuelan portfolio, the Journal reported, citing people with knowledge of the negotiations. Chevron presently runs three joint ventures with PdVSA, making it the sole large American oil company with an active presence in Venezuela.
