Market Chatter: Chevron Nears Deal to Operate 2 Oil Fields in Venezuela's Orinoco Belt

10:15 AM EDT, 09/01/2026 (MT Newswires) -- Chevron (CVX) is finalizing a deal for the operating rights to two giant oil fields in Venezuela's Orinoco Belt, Bloomberg reported Tuesday, citing people familiar with the matter. The two fields are located in the Carabobo region, which holds billions of barrels of heavy oil reserves, and are near a big field already operated by Chevron's PetroIndependencia joint venture with state-owned Petroleos de Venezuela, the report said, citing the people. Chevron didn't immediately reply to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.) Price: 208.54, Change: +2.40, Percent Change: +1.16