# The agreements are among the first big expansion deals since the U.S. launched a $100 billion reconstruction plan.

*business · news · 2026-04-13 · Spokane Spokesman-Review*

## Key points

- Chevron increased its stake in the Petroindependencia joint venture from 35.8% to 49%.
- Chevron swapped its stake in the Loran offshore gas field and a small oil project for Ayacucho 8.
- These are among the first major expansion deals since Venezuela's oil law reform in January.
- Shell is expected to sign a deal to jointly develop the Loran gas field with Trinidad's Manatee field.

**Companies:** Chevron
**Countries:** Venezuela, Trinidad and Tobago

[Read the full story on Spokane Spokesman-Review](https://www.spokesman.com/stories/2026/apr/13/chevron-agrees-to-asset-swap-in-venezuela-to-focus/)

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