Trump says he’s inclined to keep Houston-based ExxonMobil out of Venezuela

WASHINGTON, DC - JANUARY 09: U.S. President Donald Trump (C) greets CEO and Chairman of ExxonMobil Darren Woods (L) as he arrives for a meeting with oil and gas executives in the East Room of the White House on January 9, 2026 in Washington, DC. Trump is holding the meeting to discuss plans for investment in Venezuela after ousting its leader Nicolás Maduro. (Photo by Alex Wong/Getty Images)
WASHINGTON, DC - JANUARY 09: U.S. President Donald Trump (C) greets CEO and Chairman of ExxonMobil Darren Woods (L) as he arrives for a meeting with oil and gas executives in the East Room of the White House on January 9, 2026 in Washington, DC. Trump is holding the meeting to discuss plans for investment in Venezuela after ousting its leader Nicolás Maduro. (Photo by Alex Wong/Getty Images) Photo credit (Photo by Alex Wong/Getty Images)

President Donald Trump says he is inclined to keep Houston-based ExxonMobil from investing in Venezuela’s oil industry after the company’s chief executive called the country “uninvestable” during a White House meeting this weekend.

Trump made the remarks Sunday aboard Air Force One following a Friday gathering with oil executives where ExxonMobil’s CEO expressed skepticism about legal and commercial conditions in Venezuela’s energy sector.

Background: Trump’s administration is pushing U.S. oil firms to help rebuild Venezuela’s oil industry after the U.S. removal of Nicolás Maduro, with at least a $100 billion investment goal discussed at the meeting.

ExxonMobil and other major producers have raised concerns about past asset seizures and the need for reforms before committing to operations in the country.

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Featured Image Photo Credit: (Photo by Alex Wong/Getty Images)