"I'd probably be inclined to keep Exxon out. I didn't like their response. They're playing too cute,"
"If we look at the legal and commercial constructs and frameworks in place today in Venezuela - today, it's uninvestable,"
"effective immediately."
President Donald Trump expressed an inclination to keep ExxonMobil out of Venezuelan oil investments, criticizing Exxon's response as "playing too cute." Exxon CEO Darren Woods described Venezuela as uninvestable given current legal and commercial constructs and cited past seizures of Exxon assets during previous operations. Woods noted that significant changes would be required before Exxon could consider reentering, while expressing confidence in potential government-to-government cooperation to implement changes. Chevron's vice chairman Mark Nelson committed to increasing the company's production with Venezuelan partners by 100% "effective immediately." U.S. forces recently captured Venezuelan President Nicolás Maduro and his wife, and Maduro faces trial in New York.
Read at Business Insider
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