Chevron to Expand Venezuela Investment While ExxonMobil Remains Cautious
XOM ExxonMobil Holdings Corp
$164.73 -0.69%
View chart & analysis → - 1Chevron plans to invest more than $7 billion in Venezuela over the next five years.
- 2ExxonMobil has had its assets seized twice in Venezuela, including the most recent seizure in 2007.
- 3CEO Darren Woods stated that the company would consider returning to Venezuela if stronger legal protections and investment terms are in place.
So what's the key point?
Chevron plans to invest more than $7 billion in Venezuela. ExxonMobil has experienced asset seizures in the past and is considering a return only if legal protections are secured.
Source The Motley Fool +1 · View original ↗
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