President Trump said Sunday he may exclude Exxon Mobil from his drive for U.S. companies to invest in Venezuela, after the oil giant’s CEO described the South American country as “uninvestable.”
What he’s saying: “I didn’t like Exxon’s response,” Trump told reporters Sunday evening aboard Air Force One en route to Washington, D.C., from Palm Beach, Florida.
- “I’d probably be inclined to keep Exxon out. I didn’t like their response,” the president added. “They’re playing too cute.”
Context: Exxon CEO Darren Woods said in remarks delivered during Friday’s meeting at the White House with Trump that the company had had its assets seized twice in Venezuela as the country moved to nationalize in recent decades.
- “And so, you can imagine to re‑enter a third time would require some pretty significant changes from what we’ve historically seen here and what is currently the state,” he said, according to Exxon.
- “If we look at the legal and commercial constructs—frameworks—in place today in Venezuela, today it’s uninvestable. And so significant changes have to be made to those commercial frameworks, the legal system, there has to be durable investment protections, and there has to be a change to the hydrocarbon laws in the country.”
Editor’s note: This is a breaking news story. Please check back for updates.
Source: Trump says he’d be “inclined to keep Exxon out” of Venezuela oil push after CEO’s remarks
