The Globe and Mail reports in its Thursday edition that Chevron has confirmed that it will expand operations in Venezuela. An Associated Press dispatch to The Globe says that Chevron said Wednesday it plans to invest more than $7-billion (U.S.) over the next five years, with the goal of more than doubling its current production to about 600,000 barrels a day. Venezuela holds the world's largest proven reserves. Its daily production is just over one million barrels, compared with the 10 million to 11 million barrels that Saudi Arabia produces each day. The U.S. produces almost 14 million barrels per day. Chevron has had a presence in Venezuela since 1923. The White House confirmed Monday that it is partnering with North American Blue Energy Partners as part of President Donald Trump's push to tap into Venezuela's oil industry. Mr. Trump claimed Exxon was also investing in Venezuela. The agreement, however, has been met with skepticism from energy experts who say it will take years to revive Venezuela's oil industry, which is in disarray after years of neglect. There are also questions about whether Venezuela's acting President Delcy Rodríguez has the authority to give Chevron 100-year rights over 17 oilfields.