91��Ƶ

Global exports from the project are now expected to start in the second quarter of this year.

If Exxon’s move happens, corporate governance matters such as company bylaws, fiduciary duties of directors and shareholder voting rights would be shifted to comply with Texan law.

The court agreed to take up a case from Boulder, Colo., among a series of lawsuits alleging the companies deceived the public about how fossil fuels contribute to climate change.

The U.S. is backing Exxon and Chevron as they negotiate in Venezuela, Iraq, Libya, Algeria, Azerbaijan and Kazakhstan, according to public announcements and people familiar with the talks.

Shares of U.S. oil giants Exxon Mobil and Chevron are on track for their largest monthly gains in more than three years, boosted by rising energy prices and geopolitical tensions.

TotalEnergies CEO Patrick Pouyanne said it would take years to increase Venezuela’s oil output to above 3 million barrels a day from less than 1 million currently.

“I didn’t like Exxon’s response,” Trump said to reporters on Air Force One as he departed West Palm Beach, Fla., on Jan. 11. “They’re playing too cute.”

Oil companies are wary of spending tens of billions of dollars into the country over the next decade and are looking for guarantees of physical and financial security amid stability concerns.

Exxon Mobil said lower oil prices reduced fourth-quarter results by $800 million to $1.2 billion, one of the first signs that Big Oil is facing a tough earnings season. 

The White House is organizing a meeting Jan. 9 with U.S. oil company executives to discuss Venezuela. Representatives of Exxon, Chevron and ConocoPhillips are expected to attend.