Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported Thursday, citing people familiar with the matter.
One key issue is that the major US oil companies are interested in many of the same oil fields, and they want to secure the most favorable regulatory and fiscal terms possible. In addition, last month's devastating earthquake delayed progress, the report said.
Exxon and Chevron didn't immediately reply to requests for comment from.
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