The US Energy Secretary's Grand Bargain for Venezuela The signing of "tens of billions" in deals between Venezuela and Chevron, ENI, and GE Vernova, overseen by US Energy Secretary Chris Wright, is being hailed as a major breakthrough in reviving the crisis stricken country's oil industry.
Beneath this grand bargain lies a complex web of interests and implications that warrant closer scrutiny. A key aspect of these agreements is their potential to unlock Venezuela's vast oil reserves.
The Orinoco Belt, where Chevron has already invested $7 billion, is one of the world's most significant oil bearing regions.