A major US oil company is poised to increase its presence in a South American nation. This development comes after a recent announcement by President Donald Trump regarding the country's oil reserves. The company in question is the second-largest US oil firm and has a significant existing presence in the country.

Further information about the planned expansion is expected to be revealed soon. A visit by company officials and a US energy secretary is scheduled to take place, during which the new investment will be formally announced.

Details about the expansion are limited, but more information can be found through the original source. The company has not yet commented on the expected announcement.