Trump "Inclined" to Block ExxonMobil from Venezuela Oil Investment After CEO Clash
President Trump signaled a move to exclude ExxonMobil from Venezuela oil projects after CEO Darren Woods called the nation 'uninvestable' during a White House meeting.
He invited them to the table, but he's ready to pull their chair away. President Donald Trump said Sunday that he's "inclined" to shut ExxonMobil out of Venezuela after the oil giant's top executive questioned the feasibility of investing in the crisis-torn nation. Speaking to reporters aboard Air Force One on Jan. 11, 2026, Trump expressed sharp dissatisfaction with the company's cautious stance.
The Friction Behind the Venezuela Oil Investment Strategy
The tension stems from a Friday meeting at the White House between Trump and major oil executives. While the administration is pushing for a rapid rebuild of Venezuela’s energy infrastructure following the ousting of Nicolás Maduro, industry leaders remain wary. Darren Woods, CEO of ExxonMobil, reportedly described the current commercial frameworks in Venezuela as "uninvestable."
"I didn’t like Exxon’s response," Trump stated as he departed West Palm Beach. "They’re playing too cute." The President has framed the effort to stabilize Venezuela in economic terms, promising that U.S. companies would deal directly with Washington rather than the local government to mitigate risks of asset seizure—a problem that has plagued the nation for decades.
Strategic Control: 50 Million Barrels and New Executive Orders
The administration’s push isn't just rhetoric. On Friday, Trump signed an executive order to protect Venezuelan oil revenue from being seized in judicial proceedings. The White House has already moved to take over the sales of 30 million to 50 million barrels of previously sanctioned crude. According to the order, failure to secure these funds could "undermine critical U.S. efforts" for regional stability. By seizing tankers and controlling global sales, the U.S. government is positioning itself as the primary broker of Venezuelan oil.
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