2 September 2026
The United States and Venezuela strike an oil deal
The United States and Venezuela struck an oil deal, and days later Chevron announced it would expand its operations in the country.
Oil and gas
Venezuela's oil is being committed to foreign companies by an administration whose authority is disputed, before Venezuelans have voted on who should manage it.
WHAT WE DO
Our work on oil and gas
Venezuela Decides follows every oil and gas agreement the current administration signs with foreign companies, from new licences to production and investment deals. We document who is party to each deal, on what terms and under what legal authority. Decisions over Venezuela's main resource belong to a government chosen in free elections, and any agreement made before then must be open to scrutiny and review.
NEWS ARCHIVE
News from 2026
Newest first. Entries with less precise dates follow dated entries within the same period.
September 2026
Chevron to invest seven billion dollars
Chevron said it would invest about seven billion dollars to more than double its production over five years, with Colombia's GeoPark and Italy's Eni also set to enter.
27 January 2026
The year opens at 1.4 billion
Early in the year the government forecast 1.4 billion dollars in oil investment for 2026, a 55 percent rise, the opening move in a year of expanding foreign deals.
January 2026
The promised billions face long timelines
The administration projects tens of billions of dollars in oil investment over five years, but analysts caution that such investment faces long timelines before it reaches ordinary Venezuelans.
1 August 2025
Chevron cleared to deliver oil
Chevron was cleared to deliver Venezuelan oil under new production terms, an early step in the reopening.
23 May 2025
A licence kept on minimal terms
Washington planned a Chevron licence limited to minimum upkeep, keeping the company in place while the wider relationship stayed unresolved.
Summaries from the editorial selection. Historical items retain their original dates.
DEMOCRACY. HUMAN RIGHTS. THE RULE OF LAW.