U.S. Nears Massive Venezuela Oil Deal; Chevron, Exxon, Conoco Could Win

GeopoliticsCommodity Impact 4
โดย The Motley Fool·USVE·Read original
Summary · why it matters

The U.S. is in discussions with Venezuela to take an ownership stake in its vast oil resources, a deal that would more than double America's oil reserves, according to Axios. The proposed agreement would give the U.S. a stake in at least 17 of Venezuela's most promising oil and gas fields, holding an estimated 90 billion barrels of proven reserves—nearly double the U.S.'s current reserves and less than a third of Venezuela's total, which at around 300 billion barrels are the world's largest. Chevron, which has operated in Venezuela for over a century, is the clear frontrunner, having recently consolidated its heavy oil position and boosted output to over 250,000 barrels per day, with plans to grow production by 50% within two years. ExxonMobil and ConocoPhillips, which left Venezuela after nationalization, are evaluating a return, with ConocoPhillips seeking to collect $12 billion in arbitration awards and Exxon reportedly in talks to acquire rights to up to six fields. While the deal is not final, it could be a needle-mover for these oil companies.

Impact on stocks 4

Energy▲ · 2 stocks
Chevron Corp
CVX
▲ PositiveGeopoliticsrelevance

Frontrunner in U.S.-Venezuela oil deal, already operating and expanding production.

ConocoPhillips
COP
▲ PositiveGeopoliticsrelevance

Potential return to Venezuela after nationalization, seeking $12B arbitration awards.

Energy Transition & Power Demand▲ · 1 stocks
Exxon Mobil Corp
XOM
▲ PositiveGeopoliticsrelevance

In talks to acquire rights to up to six Venezuelan fields.

Artificial Intelligence▲ · 1 stocks

Theme Impact 1

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