Trump Considers Excluding Exxon Mobil from Venezuelan Oil Ventures

President Donald Trump indicated he might prevent Exxon Mobil from participating in Venezuela's oil sector after CEO Darren Woods described the nation as "uninvestable." Speaking aboard Air Force One, Trump stated, "I didn't like Exxon's response... I'd probably be inclined to keep Exxon out. They're playing too cute."

This development follows a White House meeting where Trump urged U.S. oil executives to invest $100 billion to revitalize Venezuela's oil industry. During the meeting, Woods highlighted past challenges, noting, "We've had our assets seized there twice, and so you can imagine to re-enter a third time would require some pretty significant changes from what we've historically seen here." He emphasized the need for legal and regulatory reforms, stating, "If we look at the legal and commercial constructs and frameworks in place today in Venezuela, it's uninvestable."

Exxon Mobil's shares declined by 1.03% in premarket trading following Trump's comments. The company has not issued an immediate response. Meanwhile, Chevron remains the only major American oil firm currently operating in Venezuela.