Texas-based ExxonMobil on Monday signed a memorandum of understanding with Venezuela that could lead to a potential return of the oil company to the country almost two decades after it had its assets stolen by the ruling socialist regime.
\n\nThe agreement was signed between ExxonMobil and Venezuela’s state-owned oil company PDVSA in an official ceremony presided over by “acting President” Delcy Rodríguez. Bloomberg, citing information from a statement released by ExxonMobil, detailed that the text contemplates “potential upstream opportunities.”
\n\n“This memorandum is a meaningful first step, but any future investment would require stable policies, clear regulations, strong investment protections and competitive returns,” ExxonMobil reportedly said in the statement.
\n\nBloomberg described the agreement as a step forward for the Trump administration’s efforts to help restore Venezuela’s rundown oil industry following the arrest of deposed socialist dictator Nicolás Maduro in January.
\n\nPer VTV, the Venezuelan regime’s main propaganda news channel, “acting President” Rodríguez celebrated the signing of the memorandum and, after “welcoming back” ExxonMobil, affirmed that the document should soon translate into concrete investments for the country of mutual benefit for both the U.S. and Venezuela.
\n\n“May the synergy develop and be beneficial to both countries,” Rodríguez said.
\n\nRodríguez assured that Venezuela…
Original source: https://www.breitbart.com/economy/
