US Energy Secretary Chris Wright stated on 2026-04-12 that Venezuela's oil production could double by the end of the decade. ^[1] Venezuela signed new oil agreements with Chevron, Eni, and GE Vernova. ^[2] Chevron plans to invest 7 billion dollars in Venezuela over the next five years to more than double its production in the country. ^[3] Chris Wright reported that Venezuelan oil production has increased by 25% and exports have increased by 50%. ^[4] US Secretary of State Marco Rubio and Secretary of War Pete Hegseth signed an agreement on 2026-08-31 with North American Blue Energy Partners to develop 17 oil fields. ^[5] President Delcy Rodríguez stated that the energy agreement will bring well-being to Venezuela. ^[6] US Energy Secretary Chris Wright stated that the agreements are essential for the peace and progress of the Andean country. ^[7] Chevron valued its deal to develop two additional oil fields in the Orinoco Belt at $7bn, with output expected to more than double in five years. ^[8] The new contracts are separate from a recently unveiled Caracas-Washington agreement that gives the US access to 17 Venezuelan oilfields representing about a fifth of the country's total reserves. ^[9] President Delcy Rodríguez spoke about upcoming elections in Venezuela but did not define a specific date. ^[10]