Chevron, Eni Lead Wave of Deals to Boost Venezuela Oil Output

Chevron, GE Vernova, and Eni joined US Energy Secretary Chris Wright and Venezuela’s acting President Delcy Rodríguez to unveil energy deals targeting higher crude production in Venezuela. The announcement signals renewed investment and output focus in South America, but the lack of disclosed deal size/timing makes near-term impact uncertain. Likely supportive for upstream sentiment tied to Venezuelan supply, though magnitude remains unclear.