Exxon Mobil Eyes Return to Venezuela

Exxon Mobil CEO Darren Woods conveyed the company's readiness to re-enter Venezuela, pending thorough industry evaluation and legal protections. The comments were made during a strategic meeting with President Trump following the U.S. raid on Nicolas Maduro. Exxon's past in Venezuela was disrupted by nationalization under Chavez.

Exxon Mobil CEO Darren Woods announced the U.S. oil giant's preparedness to evaluate a return to Venezuela, contingent on a comprehensive technical assessment of the industry. Woods emphasized the critical need for this evaluation during a conference with President Donald Trump and other oil executives.

The discussions followed a decisive action by U.S. forces who apprehended Venezuelan leader Nicolas Maduro in a swift nighttime operation. This pivotal meeting at the White House focused on strategizing the future of Venezuela's vital oil sector, currently in limbo.

Exxon Mobil's history in Venezuela is marked by significant asset expropriation under the regime of former President Hugo Chavez. Woods highlighted that before any investment, Venezuela's legal framework requires changes to ensure sustained investment protections.

(With inputs from agencies.)