Key Moments
- President Trump said he may block Exxon Mobil from returning to Venezuela’s energy sector. He criticized the company for “playing too cute.”
- Meanwhile, Exxon CEO Darren Woods described Venezuela as “uninvestable” without major legal reforms.
- Consequently, Exxon Mobil stock fell about 1.1% in premarket trading on Monday after Trump’s remarks.
Trump Criticizes Exxon Over Venezuela Stance
Investing.com — U.S. President Donald Trump said he may keep Exxon Mobil out of future opportunities in Venezuela’s energy industry. He made the comments aboard Air Force One on Sunday. His remarks came after tensions arose at a White House meeting with oil executives. :contentReference[oaicite:1]{index=1}
Trump directly criticized Exxon’s reaction to his push for U.S. oil producers to reengage in Venezuela. He said, “I didn’t like Exxon’s response.” He explained that many others want the opportunity, and he would likely keep Exxon out of future deals. :contentReference[oaicite:2]{index=2}
In addition, Trump said Exxon was “playing too cute,” underscoring his frustration with the company’s stance. The president’s comments highlight political pressure around U.S. energy policy and Venezuela. :contentReference[oaicite:3]{index=3}
Exxon CEO Calls Venezuela “Uninvestable”
Earlier, Exxon Chief Executive Darren Woods spoke at a White House meeting with Trump and other industry leaders. Woods said Venezuela is currently “uninvestable” due to its current legal and commercial conditions. :contentReference[oaicite:4]{index=4}
Woods explained that Exxon would need significant changes to commercial terms, legal frameworks, and protections for foreign investors before it would consider reentering the market. Without these changes, the environment remains too risky. :contentReference[oaicite:5]{index=5}
He told Trump that the company has had assets seized in Venezuela twice already, making it wary of returning without durable guarantees. As a result, Exxon has not committed to any investment plan yet. :contentReference[oaicite:6]{index=6}
Historical Exit and Market Reaction
Exxon previously exited Venezuela after the government seized its assets, along with those of ConocoPhillips, in the early 2000s. Those expropriations have remained a sore point for U.S. oil majors. :contentReference[oaicite:7]{index=7}
| Company | Recent Development | Market Reaction |
|---|---|---|
| Exxon Mobil | Potential exclusion from Venezuela’s energy sector after Trump’s remarks | Shares down ~1.1% premarket |
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
