02-September-2026
Corporate News
 
Firms Including Chevron, ONGC, GE Vernova on Track to Sign Final Pacts in Venezuela, Sources Say
01-Sep-2026

U.S. companies Chevron and GE Vernova, India's ONGC, Italy's Eni and Colombia's GeoPark are on track to sign final agreements in Venezuela after months of negotiations to firm up energy projects in the OPEC country, five sources close to the preparations said. Most of the pacts imply completion of a six-month migration of oil contracts to an amended hydrocarbon law now giving more flexibility to foreign firms to expand and operate oilfields, export the barrels and cash sale proceeds, the sources said. Others set terms for new energy and electricity projects.

News Source:- https://money.usnews.com/investing/news/articles/2026-08-31/firms-including-chevron-ongc-ge-vernova-on-track-to-sign-final-pacts-in-venezuela-sources-say