Venezuela oil reserves both entice and repel energy giants

Mike Wirth, the CEO of Chevron -- the only international company to operate in Venezuela in recent years -- said at the CERAWeek energy conference in Houston this week: "We're seeing signs of progress." "There's still things that I think need to happen to encourage investment on the scale that people would like to see," he added. Shell chief Wael Sawan said he was "encouraged," but cautioned "we still have a long way to go" on oil projects. He said the company was in talks for gas-related endeavors.