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ExxonMobil Considers Venezuela Return as Chevron Plans Immediate Production Increase

ExxonMobil, which had its assets seized 20 years ago, said certain security guarantees would be needed before recentering the Venezuelan market.
ExxonMobil Considers Venezuela Return as Chevron Plans Immediate Production Increase
Pumpjacks lift oil from wells at a Chevron production area in the Midway-Sunset Oil Field, California’s largest, in Fellows, near Taft, on Oct. 17, 2025. Robyn Beck/AFP via Getty Images
Kimberly Hayek
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ExxonMobil is exploring a return to Venezuela almost two decades after its assets were seized and nationalized, CEO Darren Woods said on Jan. 9.

“It’s absolutely critical in the short term that we get a technical team in place to assess the current state of the industry and the assets, understand what will be involved to help the people of Venezuela get production back on the market,” Woods said.

Kimberly Hayek
Kimberly Hayek
Author
Kimberly Hayek is a reporter for The Epoch Times. She covers California news and has worked as an editor and on scene at the U.S.-Mexico border during the 2018 migrant caravan crisis.