Venezuela Plans to Grant More Oil Blocks to Chevron, Repsol

An oil tanker, chartered by Chevron to transport oil from Venezuela to the United States, is docked at Freeport Marine Terminal II on Jan. 14 in Freeport, Texas. — An oil tanker, chartered by Chevron to transport oil from Venezuela to the United States, is docked at Freeport Marine Terminal II on Jan. 14 in Freeport, Texas.
Photographer: Joel Angel Juarez/Getty Images

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By Bloomberg News

February 12, 2026 at 6:41 PM UTC

Updated on

February 12, 2026 at 9:17 PM UTC

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Venezuela plans to grant more oil-production land to Chevron Corp. and Spain’s Repsol SA as the Trump administration pushes for private companies to rebuild the nation’s energy sector, according to people with knowledge of the matter.