President Donald Trump’s assertive foreign policy is reshaping the global oil map—and U.S. energy giants ExxonMobil and Chevron are moving quickly to capitalize, Bloomberg writes.
With domestic shale production nearing a plateau, the companies are pursuing new growth in OPEC-linked nations rich in oil but fraught with geopolitical risk, from Iraq and Libya to Kazakhstan and Venezuela.
Backed by the U.S. government, ExxonMobil and Chevron are gaining an edge over European rivals as host countries seek closer ties to Washington, security assurances and favorable trade terms. The push signals a revival of U.S. oil majors’ appetite for international megaprojects after years of focusing on shale. But the strategy carries risks, including political instability, past nationalizations and volatile oil prices.
Still, strong demand forecasts and a renewed push for “energy dominance” are driving American oil companies back onto the global stage, potentially reshaping supply dynamics well into the 2040s.
