Trump and Exxon Clash Over Venezuela Oil Ventures

President Donald Trump expressed his intention to block Exxon Mobil from investing in Venezuela after CEO Darren Woods deemed the country 'uninvestable' unless laws change. Woods emphasized that past asset seizures necessitated legal reforms for investment. Trumps aims to encourage U.S. firms to invest in Venezuela's oil sector.

U.S. President Donald Trump on Sunday signaled a potential move to prevent Exxon Mobil from investing in Venezuela. The oil titan's CEO, Darren Woods, criticized Venezuela as an 'uninvestable' market during a White House meeting, highlighting the country's challenging investment environment.

Exxon's previous experiences in Venezuela, where their assets were seized twice, led Woods to demand significant legal reforms. He stressed the necessity for durable investment protections to make Venezuela an attractive opportunity once again. These remarks appeared to stall Trump's goal of encouraging U.S. oil firms to invest in revitalizing Venezuela's oil industry.

Traveling back to Washington on Air Force One, Trump expressed dissatisfaction with Exxon's stance, suggesting he might lean towards excluding the company from future investment considerations in Venezuela. As of now, Exxon has yet to respond to these developments.