Why it matters
Any future investment could affect a U.S. oil company and potentially energy supply chains, but the reported agreement only begins exploration of opportunities; no production or investment decision is specified.
What happens next
ExxonMobil and the Venezuelan parties are to explore opportunities under the memorandum. The article does not say what projects, decisions or timeline may follow.
Whether the parties identify specific projects
Whether ExxonMobil makes a decision to invest or resume operations