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● LIVE Updated 1h ago · 7 sources tracked

US energy producer to unveil Venezuela investment, energy secretary says

US energy producer Continental Resources will develop a large oil patch in Venezuela, according to the US energy secretary. Harold Hamm, an ally of Donald Trump and head of Continental Resources, has struck a deal to secure these assets. Separately, Exxon is in advanced talks to return to the Orinoco Belt and is nearing a preliminary investment agreement. These moves signal a shift in US corporate engagement with Venezuelan energy resources despite previous restrictions.

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  • ✓ Continental Resources will develop a massive oil patch in Venezuela.
  • ✓ Harold Hamm has struck an oil deal in Venezuela.
🛡️ Source Corroboration: 7 independent reporting domains (80% confidence) ⏱ Read time: ~2 min

What changed

Continental Resources has secured a deal to develop a Venezuelan oil patch while Exxon advances talks for a return to the Orinoco Belt.

Live updates

  1. Continental Resources and Exxon Pursue Venezuelan Oil Investments

    US energy producer Continental Resources will develop a large oil patch in Venezuela, according to the US energy secretary. Harold Hamm, an ally of Donald Trump and head of Continental Resources, has struck a deal to secure these assets. Separately, Exxon is in advanced talks to return to the Orinoco Belt and is nearing a preliminary investment agreement. These moves signal a shift in US corporate engagement with Venezuelan energy resources despite previous restrictions.

    Why it matters

    Venezuela possesses some of the world's largest oil reserves, primarily in the Orinoco Belt. US firms have historically faced significant legal and political hurdles when operating in the country. These new investments suggest a changing diplomatic or regulatory environment for US energy companies.

    What is confirmed

    • Continental Resources will develop a massive oil patch in Venezuela.
    • Harold Hamm has struck an oil deal in Venezuela.

    Still unconfirmed

    • Exxon is advancing talks to return to the Orinoco Belt.

    What to watch next

    • Confirmation of a signed agreement between Exxon and Venezuelan authorities.
    Sources used for this update (10)
    1. cnbc.com — Continental Resources to develop massive oil patch in Venezuela
    2. Reuters — US energy producer to unveil Venezuela investment, energy secretary says
    3. The New York Times — Trump Ally Harold Hamm Strikes Venezuela Oil Deal
    4. wsj.com — Exclusive | Exxon Is Nearing a Preliminary Deal to Invest in Venezuela’s Oil Fields
    5. Reuters — Exxon advances talks to return to Venezuela's Orinoco Belt, sources say
    6. oilprice.com — Alberta Plans New Royalty Incentives to Spur Oil Production
    7. jen.jiji.com — Heat dome brings record heat to south-central US in mid-September
    8. jen.jiji.com — EU approves €125.8M for three cross-border renewable energy projects
    9. www.briefs.co — SEC Opens Five-Year Pathway To Trade Tokenized U.S. Stocks
    10. www.briefs.co — Securitize Pops As SEC Opens Five-Year Path For Trading Tokenized U.S. Stocks
    confidence 80%
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