Efforts are underway to expand energy deals between the US and Venezuela, following an agreement that allows the US to access Venezuelan oil. The goal is to increase Venezuela's oil production. Companies such as Chevron and Eni, which already operate in Venezuela, are involved in the plans.

The Department of Energy expects these agreements to significantly boost oil production. A spokesperson anticipates that Venezuela's oil production will more than double in less than five years.

Further details on the agreements and meetings between US and Venezuelan officials, including US Energy Secretary Chris Wright, are available from the source.