Trump Threatens To Block ExxonMobil From Venezuela Investments
In a stunning escalation, President Donald Trump has threatened to bar ExxonMobil from operating in Venezuela after the company's CEO, Darren Woods, expressed deep reservations about investing in the country's battered oil sector. During a White House meeting last week, Woods reportedly described Venezuela as "uninvestable" without major legal reforms, prompting Trump to accuse the oil giant of "playing too cute" and warn of potential exclusion from future deals, as reported in The Guardian.
This comes as the U.S. pushes for a $100 billion infusion from American energy firms to revive Venezuela’s vast reserves following the dramatic capture of former President Nicolás Maduro on Jan. 3. The threat underscores the growing friction between the administration's aggressive push for U.S. control over Venezuelan oil and the cautious stance of industry leaders wary of political instability and entrenched corruption.
ExxonMobil’s shares dipped in premarket trading Monday morning, reflecting investor jitters over potential lost opportunities in what Trump has called a "tremendous wealth" play. As oil markets digest this latest twist, the incident highlights the high-stakes gamble in post-Maduro Venezuela, where economic revival hinges on foreign capital amid ongoing diplomatic tensions.
The situation in Venezuela remains fluid nine days after U.S. special forces executed "Operation Absolute Resolve," a raid that © Forbes
