From Axios: President Trump said Sunday he may exclude Exxon Mobil from his drive for U.S. companies to invest in Venezuela, after the oil giant’s CEO described the South American country as “uninvestable.”
“I didn’t like Exxon’s response,” said Trump Sunday evening of the CEO’s comments during his meeting with U.S. oil giants at the White House two days ago.
“I’d probably be inclined to keep Exxon out. I didn’t like their response,” added the president aboard Air Force One en route to Washington, D.C., from Palm Beach, Florida. “They’re playing too cute.”
Exxon CEO Darren Woods said in remarks delivered during Friday’s meeting at the White House with Trump that the company had had its assets seized twice in Venezuela as the country moved to nationalize in recent decades.
During the roundtable meeting with Trump, Woods explained that Exxon has a very long history with Venezuela, having first entered the country in the 1940s, but said, “We’ve had our assets seized there twice. You can imagine to re‑enter a third time would require some pretty significant changes from what we’ve historically seen here and what is currently the state.”
“If we look at the legal and commercial constructs—frameworks—in place today in Venezuela, today it’s uninvestable. And so significant changes have to be made to those commercial frameworks, the legal system, there has to be durable investment protections, and there has to be a change to the hydrocarbon laws in the country,” he continued.
However, Woods added, “We’re confident that with this administration and President Trump working hand in hand with the Venezuelan government, those changes can be put into place.”
HODLing to my 🇨🇦 🛢 oil !
Exxon CEO Darren Woods offered the starkest assessment,telling Trump in the meeting in the East Room that Venezuela is uninvestable
If we look at the legal and commercial constructs and frameworks in place today in Venezuela today, it’s uninvestable, pic.twitter.com/sJ98ojb8Tv— DΞΞP 🇨🇦 (@Canadaai1) January 10, 2026
Trump said Sunday night that he will be inclined to keep Exxon out of the deal, based on their response.
Trump: I’d probably be inclined to keep Exxon out. I didn’t like their response. They’re playing too cute. pic.twitter.com/Lx5tBl9Qbv
— Acyn (@Acyn) January 12, 2026
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