ExxonMobil Negotiates Return to Venezuelan Oil Fields

ExxonMobil Holdings Corp. executives traveled to Caracas on September 15, 2026, to negotiate the company's return to Venezuela. The corporation is seeking access to several heavy oil fields in a country that holds the world's largest oil reserves.

These discussions follow several months of preliminary talks. The company is currently evaluating whether to follow other U.S. competitors back into the Venezuelan market.

ExxonMobil is proceeding with caution during these negotiations. The company has a history of having its assets nationalized twice by the Venezuelan government since the 1970s.