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    "headline": "Chevron to Double Venezuela Oil Production in Five Years",
    "dek": "Chevron announces agreements to double its Venezuelan oil output by 2026 amid US government investment push.",
    "prose": "Chevron announced on Wednesday that it has reached agreements to double its oil production in Venezuela within five years, targeting approximately 600,000 barrels per day. [^1]\n\nUS Energy Secretary Chris Wright stated on 2026-04-12 that Venezuelan oil production is projected to exceed 2 million barrels daily by the end of the decade. [^2]\n\nThe US government aims to reactivate Venezuelan oil and gas exploitation following the capture of Nicolás Maduro in a US military operation on January 3. [^3]\n\nUnder the new agreements, Chevron's joint venture Petroindependencia, in which it holds a 49% stake, received licenses to exploit two additional oil fields, Carabobo 1 and Carabobo 2 Sur-A. [^4]\n\nThe agreements include new concessions in the Orinoco Belt and updated legal, fiscal, and commercial terms. [^5]\n\nUS Energy Secretary Chris Wright is closing a pact in Caracas that cedes a fifth of Venezuela's oil reserves to Washington. [^6]\n\nThe agreements include updated legal, fiscal, and commercial terms that Chevron stated will allow it to double its production in Venezuela within five years. [^7]\n\nThe new production target of 600,000 barrels daily represents more than double the company's production level in 2026. [^8]",
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