ConocoPhillips Says Venezuela’s Bid to Woo Oil Firms Falls Short
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0.00 · RIGHT
ML v2 (DistilBERT)
0.287 · RIGHT
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0.143 · CENTER
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Article Excerpt
ConocoPhillips Ryan Lance, outside the White House in January. PHOTO BY AL DRAGO /Photographer: Al Drago/Bloomberg Article content (Bloomberg) — The head of ConocoPhillips said Venezuela’s initial steps to attract foreign oil companies that could help revive the nation’s production are falling well short of what’s needed to convince firms to invest. Article content The recent changes to Venezuela’s oil law intended to entice foreign drillers still give the government wide latitude to charge royalties of up to 30%, as much as 15% in taxes and other levies that could drive up the state’s take. A…
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Jun 2, 2026