Trump Considers Excluding ExxonMobil from Venezuelan Oil Ventures After CEO's Skepticism
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President Trump is considering barring ExxonMobil from participating in Venezuelan oil projects following CEO Darren Woods' remarks labeling the country as 'uninvestable.'
President Donald Trump indicated he may exclude ExxonMobil from future oil investments in Venezuela after CEO Darren Woods expressed reservations about the country's investment climate. Speaking aboard Air Force One, Trump stated, "I didn't like Exxon's response. They're playing too cute."
During a recent meeting with oil executives, Trump assured companies they would engage directly with the U.S. government rather than Venezuelan authorities. Despite this, Woods remarked that under current conditions, Venezuela is "uninvestable," citing the need for significant changes to commercial frameworks and legal systems.
In response to concerns about asset seizures and political instability, Trump signed an executive order to protect Venezuelan oil revenues from judicial claims, aiming to support economic and political stability in the region.
The Trump administration continues to encourage U.S. oil companies to invest in rebuilding Venezuela's oil infrastructure following the ousting of former President Nicolás Maduro.
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