Exxon moves toward return to Venezuela
Summary
ExxonMobil signed a memorandum of understanding with Venezuela to evaluate possible oil drilling and other upstream opportunities. A company spokesperson said Exxon welcomes the opportunity to assess options with the Venezuelan government and state oil company PDVSA.Key Facts
- ExxonMobil signed a memorandum of understanding with Venezuela.
- The agreement allows the company to evaluate potential oil production opportunities.
- The proposed evaluation concerns upstream activities, including drilling.
- Exxon said it would assess opportunities with the Venezuelan government.
- The company also named PDVSA, Venezuela’s state oil company, as a counterpart.
- The article describes the move as a step toward Exxon’s return to producing oil in Venezuela.
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