President Delcy Rodríguez led an Understanding Firm with the company ExxonMobil

Published at: 09/11/2026 10:10 PM

Petrleos de Venezuela, S.A. (PDVSA) and ExxonMobil signed a memorandum of understanding to strengthen energy cooperation and evaluate potential opportunities in the Venezuelan oil sector.

The president of the Bolivarian Republic of Venezuela, Delcy Rodríguez, pointed out that the memorandum of understanding between PDVSA and ExxonMobil represents a synergy aimed at promoting successful long-term oil development.

“Today it's a very important firm. First, it reveals months of negotiations for an effective return of ExxonMobil to hydrocarbon operations by Venezuela,” said the president.

During the official event, attended by Dan Ammann, Upstream president of ExxonMobil, and John Barrett, chargé d'affaires of the United States, this alliance was formalized, encompassing the exploitation and development of both brown and green fields with reserves estimated at billions of barrels.

The head of state emphasized the strengths of both parties to carry out this project: “We know that ExxonMobil has the capacity, the technology, the capital, the investment necessary to develop it, and Venezuela has not only its material resources, but also its extraordinary human resources represented in the workers of the hydrocarbon industry.”

The president stressed that the agreement seeks to articulate a synergy of success in the short, medium and long term within a framework of legal security that guarantees international operations and brings benefits to national development.

“We hope that Exxon's investments are taking place under very favorable conditions also for this internationally renowned company, in a framework of legal security that is very important to guarantee its investments and operations and that Venezuela can receive benefits in return for its national development, for its economic growth, but which ultimately translates into the daily lives of Venezuelans and Venezuelan women,” he said.

In her speech, the president urged accelerating the step towards the conclusion of definitive contracts: “I hope that this memorandum will soon translate into concrete agreements, Dam, and that these agreements, then, will begin to generate the results we expect in investments of this nature very soon.”

For his part, the president of Exxon Mobil, Dan Ammann, expressed his gratitude to the Venezuelan authorities for the reception, and highlighted the constructive conversations held during the previous months.

In this regard, Ammann stated that the combination of ExxonMobil's capabilities combined with Venezuelan resources and historical experience will bring significant benefits to all parties involved, as well as to the Venezuelan people.

Mazo News Team