ExxonMobil Nears Venezuela Orinoco Belt Deal 19 Years After Nationalization

CommodityM&A · PartnershipGeopolitics

โดย 24/7 Wall St.·

Summary · why it matters

ExxonMobil is nearing a deal to invest in Venezuelan oil fields in the Orinoco Belt, according to reports from The Wall Street Journal and WTVB, returning to a country it exited after Hugo Chavez's government nationalized foreign oil assets in 2007. The fields under discussion carry geological estimates of more than 50 billion barrels of oil, a figure that describes oil in the reservoir rather than Exxon's booked reserves or production. Separately, Harold Hamm's Continental Resources signed a memorandum of understanding with Venezuela's state oil company Petroleos de Venezuela on September 16, 2026 covering the Ayacucho 2 Block in the Orinoco Belt, an area with an estimated 30 billion barrels of oil reserves, marking the Oklahoma independent's first move into the country. President Trump has said the United States secured a 65 billion barrel agreement with Venezuela, a claim that does not reconcile with either company's disclosures. Exxon shares traded at $162.01 as of 12:10 p.m. ET on September 17, 2026, down 0.80% on the session, but remain up 37.31% year to date and 45.33% over the past year.

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