Chevron and Eni sign oil deals with Venezuela

On September 2, 2026, US energy company Chevron and Italian firm Eni signed major oil field development agreements with Venezuela's state-owned PDVSA. The deals, overseen by the US, include Eni operating the giant Junin-5 oilfield. Other companies such as GE and KEO Capital are also involved in related energy pacts. These agreements aim to boost Venezuela's oil output.