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Chevron CDR (CAD Hedged)
Symbol CHEV
Shares Issued 900,000
Close 2026-01-14 C$ 21.76
Market Cap C$ 19,584,000
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Globe says Exxon, rivals hear Venezuelan outlook cloudy

2026-01-15 08:56 ET - In the News

See In the News (C-XOM) Exxon Mobil CDR (CAD Hedged)

The Globe and Mail reports in its Thursday edition that Venezuela's economy, after years of contraction, sanctions and isolation, may be entering a pivotal period with the removal of Nicolas Maduro, potentially reviving oil flows, financial normalization and investor interest. The Globe's Tony Frangie Mawad and Nathan VanderKlippe write that the shift follows early actions by the U.S. to relax restrictions on Venezuelan crude oil exports and talks on protecting oil revenues. Wall Street sees a potential market revival, prompting a reevaluation of Venezuela's growth prospects, though it remains fraught with political, legal and logistical challenges. Under a scenario of normalization between Caracas and Washington, Venezuela could post one of the fastest growth rates in the region, economists say -- largely driven by oil. The outlook, however, remains highly conditional. Despite U.S. President Donald Trump having met with more than a dozen U.S. oil companies last Friday, executives are divided. Some, such as Chevron, have expressed enthusiasm about expanding operations, others, including Exxon Mobil, have described Venezuela as "uninvestable," citing its weak legal framework and the deterioration of its oil industry.

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