Venezuela Signs Oil Deals with Chevron, ENI, and GE Amid US Energy Secretary Visit

Interim Venezuelan President Delcy Rodríguez signed major oil and energy agreements with Chevron, ENI, and General Electric.

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As of 2026-09-03 09:22 UTC. Market figures are as the cited sources reported them at that time and may have moved since. This is news, not investment advice.

Delcy Rodríguez, the interim president of Venezuela, received US Energy Secretary Chris Wright at the Palacio de Miraflores on a Wednesday to sign agreements with Chevron and ENI. ^[1] On September 3, 2026, Venezuelan President Delcy Rodríguez and US Secretary of Energy Chris Wright signed eight million-dollar agreements with Chevron, ENI, Aspect, Primavera, and General Electric Vernova to double crude extraction and rebuild the electrical grid. ^[2] Both parties agreed to adjust the business plans of the mixed companies under the new legal and fiscal framework for the hydrocarbon sector. ^[3] Pdvsa signed a production participation contract with ENI for the Junín 5 block in the Venezuelan Orinoco Belt, the world's largest oil reserve, along with a transition agreement for that area. ^[4] The Venezuelan government and Chevron signed a document recognizing conversion contracts for the mixed companies Petroboscán, Petropiar, and Petroindependencia under the terms of the new Hydrocarbons Law reformulated in January. ^[5] Chevron plans to invest more than 7 billion dollars over the next five years to double its extraction capacity to over 500,000 barrels per day. ^[6] Delcy Rodríguez thanked US President Donald Trump for the joint efforts to achieve win-win agreements and mutual benefit. ^[7]

What this stands on

Delcy Rodríguez, the interim president of Venezuela, received US Energy Secretary Chris Wright at the Palacio de Miraflores on a Wednesday to sign agreements with Chevron and ENI. · EL NACIONAL

On September 3, 2026, Venezuelan President Delcy Rodríguez and US Secretary of Energy Chris Wright signed eight million-dollar agreements with Chevron, ENI, Aspect, Primavera, and General Electric Vernova to double crude extraction and rebuild the electrical grid. · La Jornada

Both parties agreed to adjust the business plans of the mixed companies under the new legal and fiscal framework for the hydrocarbon sector. · EL NACIONAL

Pdvsa signed a production participation contract with ENI for the Junín 5 block in the Venezuelan Orinoco Belt, the world's largest oil reserve, along with a transition agreement for that area. · EL NACIONAL

The Venezuelan government and Chevron signed a document recognizing conversion contracts for the mixed companies Petroboscán, Petropiar, and Petroindependencia under the terms of the new Hydrocarbons Law reformulated in January. · EL NACIONAL

Chevron plans to invest more than 7 billion dollars over the next five years to double its extraction capacity to over 500,000 barrels per day. · La Jornada

Delcy Rodríguez thanked US President Donald Trump for the joint efforts to achieve win-win agreements and mutual benefit. · La Jornada

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