From Quartz.

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Nearly a month after Nicolás Maduro’s removal, major U.S. oil companies remain cautious about Venezuela, citing persistent pressure and security risks that complicate near-term investment. New hydrocarbon reforms in Venezuela’s oil sector and ongoing U.S. sanctions frame a market where ExxonMobil and ConocoPhillips seek a fuller legal overhaul after past expropriations. ExxonMobil CEO Darren Woods called the country "uninvestable" as the National Assembly advanced measures to reassure investors and permit foreign control beyond PDVSA. Analysts Javier Corrales and Luis Pacheco cite reduced state control, heavy PDVSA debt, and the need for private capital. Output is about one million barrels per day, with Chevron supplying roughly a quarter. Policy signals include a $500 million sale via a Qatar account and more than 400 sanctions. #venezuelaoil #bigoil #trumppolicy #investmentrisks #energysector

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