ExxonMobil knows how to extract oil in Venezuela. She also learned how quickly she could lose her fish. 19 years after the nationalization of its assets, the company signed a memorandum with the Venezuelan side: together with the government and with the state oil company PDVSA, it is ready to evaluate the prospects for production. On November 9, 2026, ExxonMobil did not name the deposits or the amount invested. Such restraint has an explanation in her biography. The Cerro-Neegro project in Venezuela once made it possible to track the fate of heavy oil almost from the best to the gas station. Under the control of ExxonMobil, the raw materials were transported about 290 km to the complex in Khoza. There, it was made into a lighter product and shipped by sea to a plant in American Shalmett, which ExxonMobil then half-owned. The company has mastered the most difficult thing about this craft: it has linked deposits of Molques oil with a refinery that can pay for it. This is the experience that Venezuela needs. According to the US Energy Information Administration, most of its proven reserves comprise the super-heavy crudes of the Orinoco belt. On the way to the buyer, it requires thinning or special processing, and any extra expense along the way reduces profits per barrel. In 2007, the state suspended ExxonMobil from fishing. On May 1, Cerro Negro was taken over by a subsidiary of PDVSA. The partners did not agree on new terms of participation. On June 27, the state took ExxonMobil's share - 41.67%. In the report, the company estimated its net investment in the project's mining assets at approximately $750 million. The technological experience was brought with him. The investor had an unpleasant property: it was impossible to take him after the engineers. In January, US President Donald Trump gathered industry executives at the White House and called for investment in restoring Venezuelan manufacturing.

ExxonMobil knows how to extract oil in Venezuela. She also learned how quickly she could lose her fish. 19 years after the nationalization of its assets, the company signed a memorandum with the Venezuelan side: together with the government and with the state oil company PDVSA, it is ready to evaluate the prospects for production. On November 9, 2026, ExxonMobil did not name the deposits or the amount invested. Such restraint has an explanation in her biography. The Cerro-Neegro project in Venezuela once made it possible to track the fate of heavy oil almost from the best to the gas station. Under the control of ExxonMobil, the raw materials were transported about 290 km to the complex in Khoza. There, it was made into a lighter product and shipped by sea to a plant in American Shalmett, which ExxonMobil then half-owned. The company has mastered the most difficult thing about this craft: it has linked deposits of Molques oil with a refinery that can pay for it. This is the experience that Venezuela needs. According to the US Energy Information Administration, most of its proven reserves comprise the super-heavy crudes of the Orinoco belt. On the way to the buyer, it requires thinning or special processing, and any extra expense along the way reduces profits per barrel. In 2007, the state suspended ExxonMobil from fishing. On May 1, Cerro Negro was taken over by a subsidiary of PDVSA. The partners did not agree on new terms of participation. On June 27, the state took ExxonMobil's share - 41.67%. In the report, the company estimated its net investment in the project's mining assets at approximately $750 million. The technological experience was brought with him. The investor had an unpleasant property: it was impossible to take him after the engineers. In January, US President Donald Trump gathered industry executives at the White House and called for investment in restoring Venezuelan manufacturing.