ExxonMobil Is Reportedly Nearing a Deal to Invest in Venezuela's Oil Fields. Is XOM Stock a Buy?
That would be quite a splashy return for the company, which exited the country in 2007.
Overview
One of the more spectacular returns in the global oil industry might be happening right now.
According to several media reports published after market close on Thursday, ExxonMobil (NYSE:XOM) is in advanced discussions to invest in oil fields in Venezuela. The company exited that market in mid-2007 following a series of disputes with the government of former President Hugo Chávez, which aimed to effectively renationalize the domestic oil sector.
Details
If it plays its cards right, the U.S. energy giant could even get its hands on the advanced project it operated all those years ago. Here's a look at how a return to the country might affect the company.
Source
Originally published at www.fool.com.