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Global Business News

The Economic Times

Global Business / The Economic Times

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Big bets, bigger risks: Why US oil majors are holding back in Venezuela

US oil companies and Venezuela's government face stalled negotiations over key oil assets. Companies seek fiscal guarantees and access to attractive fields, which remains unresolved. Washington encouraged investment to boost crude output amid global supply concerns. Legal uncertainty and past nationalizations deter major companies from new capital. Smaller producers are now being considered to revive production more quickly.

31 Jul 2026 12:36 am