ExxonMobil to commit half a million to Venezuela relief efforts

US-based oil major ExxonMobil has committed $500,000 in funding for the American Red Cross to facilitate relief efforts after the devastating earthquakes in Venezuela.

The funds will help the American Red Cross and the wider international Red Cross network to provide vital support to disaster-hit areas. Exxon says these organisations will target funding at areas where recovery efforts and urgent humanitarian relief are most needed. The relief efforts will include various support services, such as relief supplies, health care, cash help, emergency shelter, sanitation and potable water, family reunification, psychosocial support and other forms of help for those affected by the earthquakes.

ExxonMobil’s global manager for corporate giving, Alvin Abraham, said:

“Our thoughts are with the people and communities affected by the devastating earthquakes in Venezuela. Our contribution aims to help ensure affected communities receive the care and resources they need.”

Exxon joins companies like Chevron and Shell, the maker of the Shell Corena air compressor oil range, in pledging funds for relief efforts in Venezuela. Many international oil companies have had a rocky relationship with Venezuela. ExxonMobil had its assets seized twice when the country moved to nationalise its oil industry.

Venezuela has the world’s largest proven oil reserves, but sanctions and poor infrastructure maintenance have limited its actual production. According to estimates from analysts, the country could potentially increase its crude oil production by 500,000 barrels per day in two years. This would require investment from private sources like multinational oil companies and reforms in the state-owned PDVSA.

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