{
  "id": 19328562,
  "title": "ExxonMobil signs preliminary agreement to return to Venezuela",
  "url": "https://urgent.news/2026/11/10/exxonmobil-signs-preliminary-agreement-to-return-to-venezuela",
  "topic": "world",
  "section": "World",
  "published": "2026-11-10T11:55:54.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/11/10/exxonmobil-signs-preliminary-agreement-to-return-to-venezuela"
  },
  "original_language": "en",
  "account": "ExxonMobil, the world's second-largest oil company, has signed a preliminary agreement to return to Venezuela, according to a memorandum of understanding announced on Monday. The US oil giant had stopped operating in the South American country in 2007, following then-president Hugo Chavez's seizure of its assets as part of an expropriation campaign.\n\nVenezuela's interim leader, Delcy Rodriguez, has granted Washington access to significant crude reserves following the ousting of President Nicolas Maduro in January. The agreement, the result of months of negotiations, is expected to enable ExxonMobil to develop oil fields with billions of barrels in reserves, according to Dan Ammann, president of ExxonMobil Upstream Company.\n\nThe move comes as foreign companies seek opportunities in Venezuela's oil sector, under pressure from the Trump administration to open up the industry. However, critics in both the US and Venezuela accuse the Trump administration of wielding leverage over Venezuela's interim leader, warning that Rodriguez could face repercussions if she does not comply with Washington's demands. Despite these concerns, Rodriguez maintains that Venezuela retains control over its oil resources.",
  "summary": "The agreement paves the way for ExxonMobil, the world's second-biggest oil company, to develop oil fields containing billions of barrels in reserves.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}