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Research, Fundamental

Energy: Venezuela Eyes Exxon Mobil’s Crown Jewel

Stewart Glickman, CFA, Deputy Director of Research

12 December 2023

Summary

Venezuela’s President Maduro recently held a referendum over potentially annexing a wide swath of neighboring Guyana – everything west of the Essequibo River, plus territorial waters. The presumed goal in doing so would be to acquire, by force, Guyana’s proved reserves of crude oil, which were discovered in 2015 and are a key cog in XOM’s growth plans.

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