Chevron(US:CVX) Sou Hu Cai Jing·2026-01-04 02:18Core Viewpoint - The U.S. pressure on Venezuela has shifted from combating drug trafficking to securing development rights for American energy companies in one of the world's largest oil reserves [1] Group 1: U.S. Government Actions - President Trump announced plans to allow major U.S. oil companies to invest billions in repairing Venezuela's oil infrastructure, aiming to generate revenue for the U.S. [3] - The U.S. government has not detailed the mechanisms to attract more American oil companies to Venezuela, but a bidding system for oil and gas blocks may be considered [3] Group 2: Challenges for Oil Companies - Chevron is currently the only major U.S. oil company operating in Venezuela, facing challenges due to the country's unstable situation and historical mismanagement [3][6] - The global demand for new oil is weak, with current U.S. crude prices below $60 per barrel, which may deter investment in Venezuela compared to U.S. shale regions [3][5] - Other oil companies will need time to assess the local situation, especially given Venezuela's history of expropriating oil assets [6] Group 3: Venezuela's Oil Industry - Venezuela's current oil production is approximately 900,000 barrels per day, with Chevron accounting for one-third of this output [5] - The country claims proven oil reserves exceeding 300 billion barrels, potentially the largest in the world [5] - Reviving Venezuela's oil industry is a complex task that requires a comprehensive economic stabilization plan and legal reforms to attract foreign investment [7]