Exxon Nears Venezuela Oil Deal for Up to 6 Fields as Trump Pushes U.S. Return
Updated
Updated · The New York Times · May 21
Exxon Nears Venezuela Oil Deal for Up to 6 Fields as Trump Pushes U.S. Return
2 articles · Updated · The New York Times · May 21
Exxon Mobil is in talks to secure rights to produce oil in up to six Venezuelan fields, with an agreement that could be finalized and announced as soon as this month.
The move would return the largest U.S. energy company to Venezuela nearly two decades after it was effectively expelled and after years of legal battles with the ruling Socialist Party.
Trump has cast Venezuela's vast natural resources as open to American business and installed Nicolás Maduro's vice president to oversee the country's economic opening to the United States.
The prospective deal marks a sharp reversal for Exxon, which as recently as January had described Venezuela as "uninvestable."
How did Exxon deem Venezuela 'uninvestable' in January, only to pursue a massive oil deal there by May?
As the U.S. unlocks Venezuelan oil, why does it maintain a fuel blockade causing a crisis in nearby Cuba?