Trump says might keep Exxon out of Venezuela after CEO called country ‘uninvestable’
US president voices displeasure with the US company’s response to his initiative for Venezuela’s oil industry
US President Donald Trump said on Sunday that he might block ExxonMobil from investing in Venezuela after the oil major’s CEO called the country “uninvestable” during a White House meeting last week.
Exxon CEO Darren Woods told Trump that Venezuela would need to change its laws before it could be an attractive investment opportunity, during the high-profile meeting on Friday with at least 17 other oil executives.
Trump had urged the group to spend US$100 billion to revitalise Venezuela’s oil industry in a meeting less than a week after US forces captured and removed Venezuelan leader Nicolas Maduro from power in a brazen overnight raid.
Woods’ sceptical remarks quickly emerged as the dominant headline, undercutting the White House’s hopes of building momentum from its engagement with the world’s most prominent oil executives.
“I didn’t like Exxon’s response,” Trump told reporters on Air Force One on his way back to Washington on Sunday. “I’ll probably be inclined to keep Exxon out. I didn’t like their response. They’re playing too cute.”
Exxon did not immediately respond to a request for comment.