Venezuela seeks to grant more oil blocks to Chevron, Repsol, Bloomberg reports

Venezuela plans to grant more oil-production land to Chevron (CVX) and Repsol (REPYY) as the Trump administration pushes for private companies to rebuild the nation’s energy sector, Bloomberg reports. U.S. Energy Secretary Chris Wright says the U.S. will release additional licenses “soon,” with companies like Chevron seeing benefits from an increase in production, according to the report, which notes that the Trump administration is expected to issue a general license to allow international oil companies to explore and produce in Venezuela without violating U.S. sanctions.