"President Donald Trump said Sunday that he is "inclined" to keep ExxonMobil out of Venezuela after its top executive was skeptical about oil investment efforts in the country after the toppling of former President Nicolás Maduro."I didn't like Exxon's response," Trump said to reporters on Air Force One as he departed West Palm Beach, Florida. "They're playing too cute.""
"During a meeting Friday with oil executives, Trump tried to assuage the concerns of the companies and said they would be dealing directly with the U.S., rather than the Venezuelan government.Some, however, weren't convinced."If we look at the commercial constructs and frameworks in place today in Venezuela, today it's uninvestable," said Darren Woods, CEO of ExxonMobil, the largest U.S. oil company."
"Also on Friday, Trump signed an executive order that seeks to ensure that Venezuelan oil revenue remains protected from being used in judicial proceedings.The executive order, made public on Saturday, says that if the funds were to be seized for such use, it could "undermine critical U.S. efforts to ensure economic and political stability in Venezuela." Venezuela has a history of state asset seizures, ongoing U.S. sanctions and decades of political uncertainty."
President Donald Trump indicated he may bar ExxonMobil from Venezuelan oil after Exxon’s top executive expressed skepticism about investing following Nicolás Maduro’s toppling. Trump met with oil executives and said companies would deal directly with the U.S. rather than the Venezuelan government. ExxonMobil CEO Darren Woods described Venezuela as uninvestable under current commercial frameworks. Trump signed an executive order to protect Venezuelan oil revenue from judicial seizure, citing threats to U.S. efforts for stability. The U.S. has seized tankers, plans to control sales of previously sanctioned Venezuelan crude, and prioritizes attracting U.S. companies to rebuild Venezuela’s infrastructure.
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