Donald Trump Signals ExxonMobil Could Be Barred From Venezuela Oil Deals After CEO Remarks [WATCH]

President Donald Trump said Sunday that ExxonMobil could be shut out of any future U.S. role in Venezuela’s oil sector, signaling frustration with the company’s position following discussions held at the White House last week, as reported by Fox Business.

Speaking to reporters aboard Air Force One, Trump referenced a Friday meeting with top U.S. energy executives in which he urged American oil companies to consider investing in Venezuela’s oil industry.

During that session, ExxonMobil Chief Executive Officer Darren Woods described Venezuela as “uninvestable” under its current legal and commercial structure.

“I didn’t like Exxon’s response,” Trump said Sunday. “You know, we have so many that want it. I’d probably be inclined to keep Exxon out. I didn’t like their response.”

Trump also said the company was “playing too cute,” reflecting his dissatisfaction with what he viewed as an overly cautious approach.

At the meeting, Woods outlined ExxonMobil’s concerns about operating in Venezuela, pointing to weak legal protections, a history of government asset seizures, and the need for sweeping changes to the country’s hydrocarbon laws.

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He told administration officials that ExxonMobil would only consider returning to the country if there were long-term, enforceable legal safeguards and a formal invitation from the Venezuelan government.

“We do not go into any opportunity with a short-term mindset,” Woods said during the roundtable discussion. “There’s a value proposition that we have to meet. It has to be a win-win-win proposition.”

ExxonMobil is among the world’s largest publicly traded oil and gas companies and has a long history in Venezuela that dates back to the 1940s.

The company exited the country in 2007 after the Venezuelan government, under then-President Hugo Chávez, moved to nationalize major oil projects and seize assets from foreign companies. ConocoPhillips also withdrew from Venezuela during that period.

Trump pressed Woods during the meeting on how quickly ExxonMobil could move if a deal were reached.

Woods responded that the company could “hit the ground almost immediately” and begin an initial assessment within a matter of weeks. Trump replied that the administration was looking for both “speed and quality” from companies seeking to participate.

The administration has been developing broader plans to reopen Venezuela’s oil sector to U.S. companies following the removal of former President Nicolás Maduro’s government. Other energy executives at the meeting reportedly acknowledged the opportunity Venezuela presents but emphasized that clear rules, legal certainty, and investment protections would be essential.

Trump has described renewed U.S. involvement in Venezuela’s energy industry as a strategic priority, particularly after recent actions that included the seizure of Venezuelan oil tankers and efforts to assert control over future oil sales.

Administration officials have also signed an executive order aimed at protecting Venezuelan oil revenues held in U.S. accounts from being diverted to legal claims, a step intended to create a more stable environment for American companies.

ExxonMobil did not immediately comment on Trump’s remarks. The exchange highlights the challenges facing U.S. officials as they attempt to attract major energy investment while reshaping Venezuela’s oil industry under new political conditions.

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