An unprecedented deal for the U.S. to gain access to a fifth of Venezuela's oil reserves - and the central role a Venezuelan businessman will play - is prompting questions and hesitation from some oil companies evaluating potential investments in the country, sources familiar with the situation told Reuters.
Andy O'Brien will succeed longtime ConocoPhillips CEO Ryan Lance next month and will inherit a major Alaska oil project to complete, costs to control and a share price that has recently lagged peers, analysts and investors said.
Today, ConocoPhillips (COP) delivered a strong second quarter driven by elevated oil prices from geopolitical tensions in the Middle East. Given its heavy weighting across major energy sector funds, the company's operational resilience acts as a key performance indicator for the energy ETF market.
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