On August 31, Chevron rose 3.11% in regular trading, reaching $207.695 per share, with turnover of $352 million. The advance came as multiple developments surrounding the company's Venezuelan oil expansion gained momentum.

Chevron is nearing completion of negotiations to bring its existing Venezuelan joint ventures under the country's new oil policy framework, while also negotiating for additional acreage to expand current projects. The company is close to finalizing a deal to add two new heavy-oil fields to its Venezuelan portfolio, building on its three existing joint ventures with state oil company PdVSA that currently produce roughly 260,000 barrels per day — about a quarter of Venezuela's total output. Halliburton is also in discussions to supply equipment to Venezuelan producers.

The deals follow a broader US-Venezuela agreement announced on August 28, under which the US secured majority control over more than 65 billion barrels of proven reserves through a 100-year concession covering 17 strategic oil fields, with total investment potentially exceeding $100 billion. US Energy Secretary Chris Wright is expected to visit Caracas to formalize production agreements.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)