Venezuela Plans to Grant More Oil Blocks to Chevron, Repsol (1)

Venezuela plans to grant more oil-production land to Chevron Corp.and Spain’s Repsol SAas the Trump administration pushes for private companies to rebuild the nation’s energy sector, according to people with knowledge of the matter.

Officials in Caracas are poised to award the exploration and production blocks as soon as this week, the people said. Giving US and European companies more access to Venezuela’s oil-rich territory is a key piece of US President Donald Trump’s push to revive the nation’s dilapidated energy sector while eroding China and Russia’s local influence.

On Thursday, US Energy Secretary Chris Wright toured a ...