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Business·5/22/2026AI summary
ExxonMobil in Talks to Return to Venezuelan Oil Production After 20 Years
ExxonMobil is reportedly in negotiations to resume oil production in Venezuela after a 20-year absence. The potential deal, which could be finalized this month, involves up to six oil fields. This move is influenced by rising global oil prices due to the Middle East conflict and strategic pressure from competitor Chevron's expansion in Venezuela.
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