Darren Woods, chairman and chief govt officer Exxon Mobil Corp., throughout a gathering with oil executives within the East Room of the White Home in Washington, DC, US, on Friday, Jan. 9, 2026.
Bloomberg | Bloomberg | Getty Photos
U.S. President Donald Trump threatened to sideline Exxon Mobil from Venezuela’s power market, saying he did not like their response to his requires oil corporations to rapidly reenter the South American nation.
“I did not like Exxon’s response. You understand now we have so many who need it. I might most likely be inclined to maintain Exxon out,” Trump instructed reporters onboard Air Drive One on Sunday.
“They’re enjoying too cute,” he added.
His feedback come shortly after Exxon CEO Darren Woods made headlines for saying at a White Home assembly with Trump that the Venezuelan market is “uninvestable” in its present state.
An Exxon spokesperson didn’t instantly reply to a request for remark. Shares of Exxon had been down lower than 1% in morning buying and selling Monday.
Talking alongside a number of different American oil executives on Friday, Woods mentioned Exxon would wish to see “some fairly important adjustments” if it was to reenter the nation for a 3rd time.
Venezuela seized Exxon’s and ConocoPhillips‘ property in 2007, and Caracas owes the businesses billions of {dollars} in excellent claims from arbitration circumstances.
Woods mentioned the corporate would wish to see adjustments to business frameworks, the authorized system and hydrocarbon legal guidelines, alongside what he described as “sturdy” funding protections.
“We’re assured that with this administration and President Trump working hand‑in‑hand with the Venezuelan authorities that these adjustments might be put in place,” Woods mentioned.
He added that Exxon was ready to ship a technical group to judge the present state of Venezuela’s oil trade and property.
$100 billion push
Trump has been pushing for U.S. oil corporations to speculate a minimum of $100 billion in Venezuela’s power sector, pledging to help them with authorities safety help.
The decision follows an audacious U.S. navy operation in Venezuela on Jan. 3 to depose Venezuelan President Nicolas Maduro and his spouse, Cilia Flores.
U.S. President Donald Trump takes questions from the members of the press aboard Air Drive One on January 11, 2026 en route again to the White Home from Palm Seaside, Florida.
Samuel Corum | Getty Photos Information | Getty Photos
Requested by a reporter for readability on the kind of backstops and safety ensures that may be supplied to grease corporations, Trump didn’t present particular particulars.
“We’re going to have ensures,” Trump mentioned. “They’d issues previously as a result of they did not have Trump as a president,” he added.
U.S. oil companies acknowledged that Venezuela, which boasts the world’s largest oil reserves, represents an intriguing alternative however some have expressed warning about dashing to reenter.
Chevron is at present the one main American oil agency nonetheless working in Venezuela.
— CNBC’s Spencer Kimball contributed to this report.
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