-- Chevron (CVX) and Shell (SHEL) are set to sign agreements involving oil and gas areas in Venezuela, Reuters reported Monday, citing three sources close to the discussions.
Chevron is expected to agree to return an offshore gas field to the Venezuelan government and take part in an extra-heavy crude project in the country's main oil region, the report said.
Shell is expected to sign a deal to receive the Loran gas field for operation, the report said.
The companies didn't immediately respond to requests from comment from.
Chevron shares rose 1.2% in Monday trading, and Shell gained 0.4%.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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