# Exxon Mobil Corp. and ConocoPhillips are pushing for durable contract terms and a way to resolve billions of dollars owed to them as they consider re-entering Venezuela.

*business · news · 2026-05-26 · Financial Post*

## Key points

- Exxon Mobil and ConocoPhillips are negotiating re-entry into Venezuela after a two-decade absence.
- Both companies demand durable contract terms and resolution of billions owed to them by Venezuela.
- Exxon has discussed leveraging its Canadian heavy oil expertise for Venezuela's similar high-viscosity crude.
- Exxon recently met with both U.S. embassy officials in Caracas and Venezuelan officials in Houston.
- Their renewed interest follows perceived improvements in Venezuelan willingness to negotiate attractive terms.

**Companies:** Exxon Mobil Corp., ConocoPhillips
**Countries:** Venezuela, United States

[Read the full story on Financial Post](https://financialpost.com/commodities/energy/oil-gas/exxon-conocophillips-return-to-venezuela)

---

Canonical: https://newsio.io/n/8a0be00f-7fde-4086-9763-72f2acf93113/exxon-mobil-corp-and-conocophillips-are-pushing-for-durable-contract-terms-and-a
Summarized by Newsio from Financial Post. https://newsio.io/how-it-works