2 weeks ago - In 2024, Venezuela granted BP (BP.L), opens new tab and Trinidad and Tobago's National Gas Company an exploration and production licence for the Venezuelan part of the yet-to-produce cross-border Manakin-Cocuina gas field.

1 week ago - Companies operating refineries along the Gulf Coast, however, stand to receive a big boost if Venezuela's oil industry does re-open, including Phillips 66 whose CEO said at a Goldman Sachs conference Tuesday that they have two Gulf coast refineries ...

3 days ago - Trump said Friday the industry would invest at least $100 billion to rebuild Venezuela's energy sector with U.S. security guarantees. But the CEOs of big oil companies like ExxonMobil and ConocoPhillips did not commit at the meeting to quickly ...

Venezuela oil refineries that are Chevron, ExxonMobil, and ConocoPhillips. Alongside them, oilfield services leaders Halliburton Company and SLB are widely seen as critical enablers of any production recovery, given the scale of infrastructure ...

1 week ago - Conoco and Exxon participated in Venezuela's "oil opening" policy in the 1990s, which invited foreign investment to develop resources in the Orinoco Belt. They exited the country after Chavez's nationalization and filed arbitration claims against ...

1 day ago - He met oil industry leaders from Exxon, Chevron, ConocoPhillips, Halliburton, Valero and Maratho at the White House to discuss investments in Venezuela. Exxon CEO Darren Woods told Trump that the Venezuelan market is "uninvestable" in its current ...

14 hours ago - Some are big Trump donors. Updated today at 7:53 a.m. EST ... The Amuay refinery in Los Taques, Venezuela. (Matias Delacroix/AP) ... Things have not gone exactly the way President Donald Trump suggested they would following the ouster of Venezuelan strongman Nicolás Maduro. The big oil companies that Trump promised would make a windfall by pumping in Venezuela are chafing at the massive costs and risks associated with overhauling its infrastructure.

3 days ago - They took our oil rights,” he said. It’s not clear who would want to invest in Venezuela at this moment of uncertainty. Exxon, having been burned before by Venezuela’s government, called the country “uninvestable” this month. There are many other places to produce oil that are more stable than Venezuela, including its neighbor Guyana.

1 week ago - Exxon and Shell are "not going to invest single-digit billions of dollars, much less tens of billions of dollars", without physical security, legal certainty and a competitive fiscal framework, Goldwyn said.

6 days ago - While it's likely premature to say whether ConocoPhillips will reenter the country, the company has been mentioned by various media outlets that have reported on the Trump administration's plans to meet with oil companies about the future of Venezuela. Given that the company has operated there in the past, it is a potential candidate to re-enter the country if the Trump administration can convince it, or make a deal that the company feels confident in. ExxonMobil (XOM +0.59%) is another company that left Venezuela in 2007, due to similar circumstances as ConocoPhillips. The company is owed approximately $1 billion by the Venezuelan government and has been named by various media outlets as a company with which the Trump administration will hold discussions.

1 week ago - He was flanked by top executives from Exxon Mobil (XOM.N), opens new tab, ConocoPhillips (COP.N), opens new tab, Chevron Corp (CVX.N), opens new tab and others. "We're going to be making the decision as to which oil companies are going to go ...

2 days ago - “It’s uninvestible,” ExxonMobil CEO Darren Woods told officials when discussing the obstacles to doing business in Venezuela. “There are a number of legal and commercial frameworks that would have to be established to even understand what kind of returns we would get on the investment.” · Several other executives also expressed reluctance with doing business in the embattled Latin American country. After a lengthy White House meeting on Friday, Trump and his top aides had emerged without any major commitments from companies to invest billions of dollars in the nation.

6 days ago - Over the past few weeks, the ships were visible on satellite imagery docked in Venezuelan ports, but they were all gone from those locations by Saturday in the wake of Maduro's capture by US forces. While Trump claimed the oil embargo on Venezuela remained in 'full force' after Maduro's extraction, the vessels still made the risky decision to leave port. All the identified vessels are under sanctions and most of them are supertankers that typically carry Venezuelan crude oil to China, according to TankerTrackers.com and shipping documents from state-run Venezuelan oil company PDVSA.

5 days ago - So, about all that Venezuelan oil. Although President Trump has declared that America’s oil companies will soon “go in” to Venezuela and “spend billions of dollars” to rebuild that country’s petroleum industry, the administration is making two huge assumptions.

1 week ago - The Cardon oil refinery in Punto Fijo, Venezuela. Companies like Exxon Mobil and ConocoPhillips say that Venezuela owes them billions of dollars for confiscating their assets two decades ago.

1 week ago - Those licenses have in the past allowed PDVSA's joint venture partners and customers, including Chevron, India's Reliance (RELI.NS), opens new tab, China National Petroleum Corporation (CNPC) and European Eni (ENI.MI), opens new tab and Repsol (REP.MC), opens new tab, to have access to Venezuelan oil to refine or to resell to third parties. This week, some of those companies have begun making preparations for receiving Venezuelan cargoes again, two separate sources said.