Exxon Mobil CEO Darren Woods said the company is evaluating investments in Venezuela after recent regulatory reforms opened the market.
Woods expressed optimism, noting Exxon’s heavy‑oil expertise could position it to bring Venezuela’s large reserves to US Gulf refineries.
Chevron, currently producing 250,000 bpd in Venezuela, owes $1.5 bn as of end‑2025 and expects debt clearance by 2027.
Earlier Woods told President Trump Venezuela was “uninvestable,” but regulatory changes have shifted Exxon’s stance to consider new deals.