The oil giant has secured a greater stake in the South American country’s vast Orinoco Belt, which sits atop the world’s largest reserves of extra-heavy crude.
Venezuela’s state-owned oil platform in Orinoco, Venezuela, in this file photo. Ramon Sahmkow/AFP via Getty Images
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Chevron announced on April 13 that it had reached agreements with the Venezuelan government to expand its operations in the world’s largest extra-heavy crude oil field.
The American energy giant inked two agreements to grow its presence in the South American nation’s Orinoco Belt, which overlies the largest proven reserves of extra-heavy crude oil on the planet.
