Exxon Mobil is negotiating to regain oil production rights in Venezuela. This move follows nearly 20 years since former President Hugo Chávez nationalized the company's assets.
The deal could be finalized as soon as this month. The agreement potentially grants Exxon access to six oil fields.
CEO Darren Woods previously labeled Venezuela uninvestable in January 2026. Negotiations follow shifting political landscapes and U.S. efforts to reopen crude reserves.
XOM shares remained relatively flat following the report.