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Oil Agreements

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U.S.-Backed Deal Hands NABEP Operational Control Over 65 Billion Barrels in Venezuela amid Deep Doubts

The pact moves large Venezuelan reserves to a U.S.-linked operator and leaves open major legal, technical and financing questions that limit near-term supply gains.

Chevron Commits More Than $7 Billion to Expand Venezuelan Joint Ventures and Target 600,000 bpd