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ExxonMobil and its history in Venezuela: exploration, nationalization possible return to Venezuela



ExxonMobil is a multinational oil company headquartered in Texas, United States. It is one of the largest oil and gas companies in the world, and is engaged in the exploration, production, refining and marketing of oil and natural gas.

Regarding its relationship with Venezuela, ExxonMobil operated in the country from the 1940s until 2007, when the Venezuelan government, led by Hugo Chávez, nationalized the company's assets. In 2014, an international tribunal ordered Venezuela to pay ExxonMobil $1.6 billion in compensation for the expropriation of its assets.

In 2019, ExxonMobil announced that it was considering a return to Venezuela, but there have been no significant developments on that front since then. It is important to keep in mind that Venezuela's political and economic situation remains complicated, which may hinder foreign investment in the country's oil sector. In addition, there are uncertainties about the legal and regulatory framework for the oil sector in Venezuela, which may deter companies from investing.

In summary, ExxonMobil is a major oil company with a long history of operations in Venezuela. Although there have been discussions about a possible return to Venezuela, the current situation in the country poses significant challenges for any company looking to invest in the Venezuelan oil sector.

There are several media outlets talking about this return, which for the moment could be said to be speculation as there is nothing concrete.

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