Exxon Mobil is negotiating a return to Venezuela's oil sector after 19 years, specifically targeting the Petromonagas project and Carabobo assets in the Orinoco Belt. While Chevron and Eni have already signed expansion agreements as national production hits 1.25 million bpd, ConocoPhillips maintains its refusal to return until $11 billion in past debts are settled. Meanwhile, Exxon's Joliet refinery in Illinois remains offline due to pump failures caused by recent flooding.
