{
  "id": 5084191,
  "title": "Chevron unveils deal to double Venezuela’s venture output in 5 years",
  "url": "https://urgent.news/2026/09/02/chevron-unveils-deal-to-double-venezuelas-venture-output-in-5-years-5084191",
  "topic": "world",
  "section": "World",
  "published": "2026-09-02T11:38:06.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/09/02/chevron-unveils-deal-to-double-venezuela-s-venture-output-in-5-years"
  },
  "original_language": "en",
  "account": "Chevron has unveiled a US$7 billion deal with Venezuela to double the country's oil production in five years, according to a press release. The agreement involves the development of two new oil fields in the Orinoco Belt, more than doubling output to around 600,000 barrels a day. Chevron's stake in the Petroindependencia joint venture will increase to 49%, with the company returning certain offshore gas extraction rights to the Venezuelan state oil company PDVSA. Chevron CEO Mike Wirth highlighted the company's century-long presence in Venezuela and the country's vast resource potential, stating that the deal will deliver attractive low-cost oil growth, support energy supply, and create differentiated long-term value. US Energy Secretary Chris Wright arrived in Venezuela to finalize the deal, praising his efforts to facilitate conditions for further investment and growth.",
  "summary": "The oil giant announced a US$7 billion deal with Venezuela to develop two additional oil fields in the country's Orinoco Belt.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}