23 Hrs
Source:
الاقتصادية
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Source: الاقتصادية
23 Hrsالاقتصادية
Source: الاقتصادية
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“ExxonMobil” has signed a memorandum of understanding with the Venezuelan government and state-owned oil company “Petróleos de Venezuela” to explore opportunities in exploration and production. The move paves the way for a possible return to the country, but is not legally binding. The company has said it would require stable policies, clear laws, guarantees protecting its investments, and competitive returns before committing any funds. Its CEO, Darren Woods, remains cautious after the company’s assets were nationalized twice over the past 50 years. Exxon’s experience with Canada’s heavy oil could give it a competitive edge in Venezuela, which holds an estimated 300 billion barrels of oil reserves.
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