Chevron Corp. and private equity group Quantum Energy Partners will join forces to buy the international assets of sanctioned Russian oil company Lukoil PJSC, according to the Financial Times.

Chevron shares are up on Thursday as the company navigates complex geopolitical landscapes, particularly regarding potential investments in Venezuela.

Private equity group Quantum Energy Partners is working on a bid that could involve U.S. oil major Chevron for the international assets of Russian oil major Lukoil , a source familiar with the matter said.

Chevron and other energy stocks soared Monday morning, though oil prices barely budged, after the US captured Venezuelan dictator Nicolás Maduro and President Trump said American companies would tap into the nation’s rich oil reserves. Shares in Chevron, which is the only major US oil company currently operating in Venezuela, jumped 4.8%.

Chevron and others in the broader U.S. oil-and-gas industry didn’t receive advance notice of the U.S. incursion or the Trump administration's broader Venezuela strategy, according to people familiar with the matter.

Rebuilding Venezuela's degraded oil infrastructure and returning it to full capacity will likely take years, experts say.

Trump told NBC News that he thinks American firms could get Venezuela’s oil fields “up and running” within 18 months.

A former Chevron executive is seeking $2 billion in investment for oil opportunities in Venezuela as the U.S. shows interest in rebuilding the country's petroleum industry following the capture of its former leader.

Shell has agreed to buy stakes in two undeveloped offshore blocks in ultra-deep waters offshore Angola from Chevron , the European energy major said on Tuesday.

Houston’s oil and gas industry faced a rough market this year, prompting a wave of layoffs. Here’s a list of the year’s biggest cuts.

Chevron, the last oil major still operating in Venezuela, surges following the U.S. capture of President Nicolás Maduro.