Exxon, Conoco won't be repaid immediately with Venezuelan oil sale revenue, US Energy Secretary says-March 2024-www.financetom.com

Exxon, Conoco won't be repaid immediately with Venezuelan oil sale revenue, US Energy Secretary says

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Exxon, Conoco won't be repaid immediately with Venezuelan oil sale revenue, US Energy Secretary says

Mar 10, 2026 11:57 PM

Jan 7 (Reuters) - U.S. Energy Secretary Chris Wright

said on ‌Wednesday that revenue from ‍Venezuelan oil ⁠sales ⁠will be

used to ‌stabilize the country's economy first, before ⁠repaying

Exxon ‍Mobil and ConocoPhillips ( COP ) for its losses

there.

Exxon ‍Mobil and ConocoPhillips ( COP ) were major

producers in the country ‍before their projects were nationalized

by former President Hugo Chavez nearly two decades ago.

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