The Latest Breaking News from ConocoPhillips

Two of the three major US oil companies pulled business out of Venezuela nearly two decades ago after assets were seized

Venezuela’s oil industry has been in the spotlight since President Donald Trump captured the country’s President Nicolas Maduro

US to remove some sanctions to allow it to keep selling country’s supplies after laying claim to blockaded crude

Boosting output from the nation's dilapidated oil infrastructure will require massive outlays.

President Trump has set his sights on Venezuela's vast oil reserves, the largest in the world. If consolidated under Washington’s influence, about one third of global oil reserves could end up under US control. Yet, experts are skeptical about Trump's plans, saying it won't be cheap or easy.

President says a ‘tremendous amount of money’ will need to be spent repairing country’s infrastructure

Doubling Venezuela's weakened oil flows could cost $110 billion and take until 2030.

Energy experts say reviving Venezuela’s oil industry could be a decade-long process, and could cost upwards of $100 billion.

Chevron is currently the only major US oil company still operating in Venezuela and exporting crude from the country. Shares of Exxon Mobil and ConocoPhillips rose about 3% each, buoyed by speculation that restrictions barring US firms from Venezuela's oil fields could be eased.

The S&P 500 rallied but failed to turn the "Santa Claus Rally" indicator positive for 2026.

Russia’s oil exports are its “lifeline” and largely fund its war on Ukraine, says one economist.