Oil Majors Tell Washington What It Doesn't Want to Hear: Venezuela's Reform Is "Woefully Inadequate"

Rating B · Outlook positivo · Outlook stable. Rating B · Positive outlook. At CERAWeek Houston, the CEOs of ConocoPhillips and Chevron — the two most important companies for Venezuela's oil future — publicly stated that OFAC licenses are not enough. They need fiscal reform, legal certainty, and a debt repayment plan. Licenses open the door; the local framework determines if anyone walks through it.