ExxonMobil at the table with Venezuela after 19 years: Four conditions for oil investment

ExxonMobil signed a preliminary agreement with Venezuela to evaluate new oil fields, marking its return to the country 19 years after the 2007 nationalization of its assets. No final investment decision has been made, with four conditions and an unresolved compensation dispute standing in the way. The move matters because it signals a potential reopening of one of the world's largest crude reserves to a major U.S. oil company after nearly two decades of estrangement. What to watch next is whether ExxonMobil and Venezuela can settle the outstanding compensation claim and whether the four conditions are met, which would clear the path for actual capital commitment.