Bloomberg Businessweek

Chevron’s Long Game in Venezuela

The American oil giant is helping prop up the beleaguered nation’s energy industry, positioning itself for post-Maduro prosperity
A mural near PDVSA headquarters in Caracas

Donald Trump may have slammed Venezuela with sanctions in an effort to change the regime of President Nicolás Maduro, but the country’s energy industry has an unlikely ally: Chevron Corp.

Despite the U.S. administration’s push to disrupt the financial resources available to Venezuela’s leadership, the second-biggest U.S. oil company is working to bolster one of the Maduro government’s chief economic pillars—its ability to produce crude oil. Chevron is helping tap four fields in the country while testing new injection technologies to maximize production in one, says a person familiar with the operations who asked not to be named because he wasn’t authorized to discuss the matter. Chevron is also

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