CARACAS, VENEZUELA (By Piero Stewart, Editores Latin Petroleum, 16.Sep.2026, Words: 172) — US-based ExxonMobil Corporation is reportedly advancing talks with Venezuelan authorities to evaluate its return to the OPEC country, nearly 2 decades after abandoning operations following the nationalization of its assets.
Executives from the Spring, Texas-based oil company traveled to Caracas this week to negotiate potential rights to several heavy crude oil fields, El Nacional reported on 16 Sep. 2026, citing people familiar with the process.
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Among the areas of interest are Petrovictoria and Petromonagas, 2 projects located in the Orinoco heavy oil belt, also known as the Faja, that were under ExxonMobil’s control before being nationalized during Hugo Chávez’s administration.
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ExxonMobil is also reportedly interested in acquiring rights to 2 other fields located in the Carabobo region.
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By Piero Stewart reporting from Caracas. © 1999-2026 Energy Analytics Institute (EAI) and its 100% owned Venezuelan affiliate Editores Latin Petroleum CA. All Rights Reserved.
