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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.
Exxon Mobil and ConocoPhillips are negotiating re-entry into Venezuela after a two-decade absence.
KEY POINTS
- 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
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