President Donald Trump said Sunday he is “inclined” to bar ExxonMobil from participating in Venezuela’s oil sector after the company’s chief executive expressed serious reservations about investing in the country’s energy industry, reports AP.
Speaking to reporters aboard Air Force One as he departed West Palm Beach, Florida, Trump said he was disappointed with Exxon’s response during a meeting with major U.S. oil executives and warned that the company may be excluded from the U.S.-led reconstruction and investment plans in Venezuela. “I didn’t like Exxon’s response. They’re playing too cute,” he said.
At a White House meeting on Friday, ExxonMobil CEO Darren Woods described Venezuela as “uninvestable” under current legal and commercial conditions, saying significant reforms and investor protections would be required before his company could commit to investments.
Trump has been pushing U.S. oil firms to help revive Venezuela’s beleaguered energy industry since the ouster of former President Nicolás Maduro, telling executives they would work directly with the United States rather than the Venezuelan government.
On Friday, Trump also signed an executive order aimed at safeguarding Venezuelan oil revenues held in U.S. Treasury accounts from judicial seizure, saying allowing such actions could undermine U.S. efforts to stabilise the country’s economy.
The administration is framing its involvement in Venezuela’s oil sector as an economic priority, including control over sales of previously sanctioned crude and encouraging U.S. companies to invest in rebuilding infrastructure, though Exxon’s reluctance highlights the challenges of attracting private capital amid legal and political uncertainty.
Bd-pratidin English/ Jisan
