Exxon advances talks to return to Venezuela's Orinoco Belt, sources say

ExxonMobil is negotiating a potential return to Venezuela, targeting the Petromonagas heavy-oil project in the Orinoco Belt, where it previously held an interest, and adjacent areas in the Carabobo block. A return could expand Exxon’s access to large heavy-crude reserves, but any development remains contingent on negotiations and the U.S. sanctions framework governing Venezuelan oil activity.