Why Oil Majors Are Hesitant to Invest in Post-Maduro Venezuela [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
One of the principal aims of the administration was made abundantly clear in the press conference that detailed the stunning shift in energy geopolitics that had been effected just a few hours before. In addition to bringing Nicolas Maduro to justice, the U.S. was taking over the administration of the country's oil sector with the express ambition of revitalizing it and increasing production. Estimates were floated by Energy Secretary Chris Wright of a quick ramp higher as oil majors , ExxonMobil (NYSE:XOM), and ConocoPhillips (NYSE: COP) returned to the country. In the subsequent press conference that took place between high-level energy executives, President Trump and his key cabinet officials on Friday, January 9th, the initial bullishness took a step back. One by one, while these business leaders showed support for the administration's goals, they made it clear the country was presently uninvestable. ExxonMobil's CEO, Darren Woods was quoted in a WSJ article describing the chang
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