Stocks
US Oil Giants Close In on Venezuela Deals Amid Trump's 'Biggest Oil Deal in History'
A major oil deal is reportedly nearing completion in Venezuela, with American companies Exxon Mobil Corp. (XOM), Chevron Corp. (CVX), and GE Vernova Inc. (GEV) close to signing final agreements.
The deals are expected to provide more flexibility for foreign firms to expand and operate oilfields, export barrels, and cash sale proceeds.
Chevron's agreements with Venezuela are anticipated to be 'of significant size,' according to a source, as the company seeks to add an Orinoco Belt block to its PDVSA joint venture and pursue a Monagas North area for diluents in extra-heavy oil production.