Venezuela had the world’s largest proven oil reserves, with more than 300 billion barrels. Most of its oil was extra-heavy crude that was technically and economically challenging to produce. Therefore, Venezuela’s government invited foreign oil companies to take part in oil exploration and production. Chevron Corp. (Chevron) had operated in Venezuela since 1923, and before the US government started to sanction Venezuela in 2019, Chevron was one of .....more