🚨 Exxon says it can handle Venezuela’s tough crude
According to @Georgina Kronau ExxonMobil CEO Darren Woods, the company has the technology to produce and process Venezuela’s high-cost heavy crude despite its extra-heavy, sour nature and past challenges.
• Venezuelan reserves (especially the Orinoco Belt) are some of the largest in the world, but the oil is extra-heavy and costly to extract and refine.
• U.S. Gulf Coast refineries are already historically built to handle heavy crude meaning the bottleneck is less about refining than about investment and politics.
Exxon’s statement underscores that the real constraints remain policy, legal frameworks, and risk protections before full reentry happens.
This positions Exxon strategically if Venezuelan heavy barrels flow back into US or Atlantic markets.
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