11:29 - 1.09.2026

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September 1, Fineko/abc.az. U.S. President Donald Trump announced on Monday that ExxonMobil, the largest American oil major, is among a group of energy companies planning to initiate business operations in Venezuela. The announcement comes as Washington steps up efforts to facilitate major oil deals in the South American nation.

Speaking to reporters, Trump indicated that ExxonMobil is prepared to re-enter Venezuela's energy sector, noting that his administration is actively encouraging top U.S. energy firms to invest in tapping the country's vast crude reserves. The strategy aims to revitalize Venezuelan oil output and reinforce global supply chains under U.S.-backed commercial terms.

Industry analysts note that a return by ExxonMobil would represent a major shift in the regional geopolitical and energy landscape, though it would require substantial regulatory frameworks and infrastructure investment. Representatives for ExxonMobil have not yet commented on the White House statement.