Exxon Mobil, the U.S. oil giant, has signed a memorandum of understanding to explore drilling opportunities in Venezuela, marking a potential shift after its CEO labeled the country “uninvestable” in January. The agreement signals preliminary interest in the South American nation’s oil reserves despite ongoing U.S. sanctions and political uncertainty. Details on specific projects or timelines were not disclosed.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing