TotalEnergies CEO Echoes Exxon’s Caution on Venezuela Oil
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TotalEnergies CEO Patrick Pouyanne has echoed ExxonMobil's cautious stance regarding the revival of Venezuela's oil industry. He emphasized that the process will require significant investment and time, potentially limiting Venezuela's influence on global oil markets through 2026. The insights reflect a broader concern about the challenges facing the country's oil sector amidst ongoing economic and political instability.
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Venezuela, once a major oil producer, has seen its output plummet due to years of mismanagement, sanctions, and economic turmoil. As global demand for oil fluctuates, the potential for a resurgence in Venezuelan oil production remains a topic of significant interest among energy analysts and investors.
This article reflects the opinions of the cited executives and does not necessarily represent the views of Bloomberg or its affiliates.
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