Chevron has confirmed plans to expand operations in Venezuela. The company intends to invest more than $7 billion over the next five years. This investment is expected to significantly increase production, with a goal of doubling current output to around 600,000 barrels per day.

Further details about Chevron's expansion plans are available from the company. The investment and production goals indicate a major commitment to Venezuela operations. Chevron's announcement follows a deal with the Trump administration, although specific terms of the agreement are not provided in the initial report.

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