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EXCERPT:
Don’t look now, but Big Oil is making big moves to secure positions in the expanding Venezuelan oil industry as part of the Trump Administration’s plans to revitalize the country’s economy.
On Monday, Chevron officials signed a pair of deals to expand the company’s footprint in the prolific Orinoco Belt as Shell prepares to ink a major deal of its own later this week.
Make no mistake: These deals didn’t happen in a vacuum. They are the direct result of the Trump administration’s bold decision to remove Nicolás Maduro in January, launch a $100 billion reconstruction plan for the country’s shattered energy sector, and push through sweeping reforms to Venezuela’s hydrocarbon law. After years of socialist mismanagement that turned one of the world’s richest oil nations into an economic basket case, sanity is finally returning.