Chevron and other US energy companies are about to reach an agreement to invest billions of dollars in Venezuelan oil fields; after months of slow negotiations, this is expected to be an outcome of the Trump administration. According to people familiar with the matter, Chevron is about to finalize an agreement to expand its long-standing business in this Latin American country, or include two additional heavy oil fields in its Venezuelan asset portfolio. Chevron currently has three joint ventures with PetroVenezuela, and is the only major US company still operating in the country. Some people familiar with the matter revealed that Halliburton, one of the largest US oil field service companies, is also in negotiations and plans to supply a full set of equipment to Venezuelan oil producers.

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