Venezuela to Expand Oil Production Land for Chevron and Repsol

Venezuela is set to allocate additional oil-production land to Chevron and Spain's Repsol as part of efforts to revitalize its energy sector. Bloomberg posted on X, highlighting the Trump administration's encouragement for private companies to play a significant role in rebuilding the nation's oil industry. This move is seen as a strategic step to boost Venezuela's oil output and attract foreign investment, amid ongoing economic challenges. The decision aligns with broader initiatives to enhance the country's energy infrastructure and stimulate economic growth.