On May 1st, ExxonMobil CEO Darren Woods stated -in an interview with CNBC- that he is evaluating possible investments in Venezuela, following the changes -in recent months- to energy regulations and contractual terms driven by the interim Government of Delcy Rodríguez and with the approval of the Trump Administration.
Easing of sanctions in favor of Caracas.
The statements by the director of the oil giant represent a change of stance, since -months ago and during a series of meetings at the White House- Woods had assured that investing in Venezuela was not yet viable. Prior to Trump’s optimistic statements in the Oval Office, his Administration announced the granting of a license that allows different entities to begin advising the Government of Venezuela and the national oil company PDVSA on the restructuring of its debt, as a new advance in the relaxation of sanctions in favor of Caracas.We recommend reading:
Last week, the government of Delcy Rodríguez signed two new energy agreements with the US companies Overseas Oil Company and Crossover Energy Holding, following a visit by a White House delegation to the Venezuelan capital to announce progress in this sector. Rodríguez explained that these new agreements include fields in the states of Anzoátegui (northeast), Monagas (east) and Barinas (west), for the exploitation of oil and associated gas «y that this gas can serve as an impulse for the Venezuelan electrical system». According to an economic projection by the United Nations (UN) on Venezuela, published at the end of April, the Caribbean country is projected to obtain more than 22 billion dollars in revenue from oil exports in 2026, which would exceed by more than 50% the 14.713 billion dollars it received for this item last year.
