ExxonMobil has signed a preliminary agreement with Venezuela's state oil company to explore oil production opportunities, marking a potential return after leaving the country in 2007. This move follows recent reforms allowing private companies majority control over oil operations and increased US imports from Venezuela. Exxon remains cautious, requiring stable policies and competitive costs before committing to major investments. Meanwhile, Chevron continues to expand its presence in Venezuela, aiming to double production in five years.
ExxonMobil trades at USD 164.34 with a slight 0.24% decline as of Nov 11, 2026 01:02 WIB on Pluang. Chevron, also in the energy sector, is priced at USD 210.36, down 0.20% at the same time. Pluang data shows 72% of Exxon orders are sell, contrasting with Chevron's 68% buy activity, reflecting differing investor sentiment amid Exxon’s cautious stance on Venezuela.
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