AdvertisementSKIP ADVERTISEMENTYou have a preview view of this article while we are checking your access. When we have confirmed access, the full article content will load.Exxon May Return to Venezuela, Ending a Long Fight With Its LeadersThe U.S. oil giant is negotiating a deal to pump oil in Venezuela, ending a standoff with its socialist rulers and marking a victory for President Trump.Listen · 5:51 min An oil tanker docked at the Cardón refinery in Punto Fijo, Venezuela, in January.Credit...Adriana Loureiro Fernandez for The New York TimesMay 21, 2026, 2:58 p.m. ETThe largest U.S. energy company, Exxon Mobil, is in talks to acquire rights to produce oil in Venezuela nearly two decades after it was effectively expelled from the country, according to several people familiar with the matter.The deal would be a major victory for President Trump, who has declared the country’s vast natural wealth open to American businesses.If finalized, the deal would mark Exxon’s return to a country with one of the world’s largest oil reserves after years of legal battles that had turned the oil giant into a nemesis of Venezuela’s ruling Socialist Party.As recently as January, Exxon had called Venezuela “uninvestable.”After deposing the nation’s leader, Nicolás Maduro, Mr. Trump installed Mr. Maduro’s vice president to manage Venezuela’s economic opening to the United States.The deal, which could be finalized and announced as soon as this month, would involve Exxon signing contracts to produce oil in up to six fields in several regions in Venezuela, according to the people familiar with the matter. They spoke on condition of anonymity because they were not authorized to speak publicly about private discussions.An Exxon spokesman declined to comment. Venezuela’s government and state oil company did not respond to requests for comment.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe.AdvertisementSKIP ADVERTISEMENT