Reviewed by Gotrade Internal Analyst
Jakarta, Gotrade News - Exxon Mobil still plans to send a technical team to Venezuela to evaluate its oil infrastructure. This move proceeds despite President Donald Trump showing his displeasure with the company’s cautious stance.
Key Takeaways
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Exxon remains interested in a technical assessment within weeks.
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Legal certainty and investment protection are non-negotiables for the firm.
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Past debts worth billions of dollars remain a major dealbreaker.
According to a Reuters report, Exxon CEO Darren Woods emphasized the need for regulatory changes before committing. This condition is meant to protect the capital they would pour into the country.
This cautious vibe triggered a sharp reaction from President Trump who threatened to limit Exxon’s moves. Trump urged American energy firms to immediately invest a total of $100 billion.
Internal sources revealed that Exxon Mobil Corporation was surprised by the negative response from the White House. They believe the government should help clear the hurdles instead of adding more pressure.
Woods stated that the technical team could be deployed within several weeks to start evaluations. These checks cover the condition of oil assets and infrastructure left behind for years.
On the other hand, Chevron Corporation is currently in a much more favorable position. The company is the only American oil giant with active operations still running there.
The history of oil industry nationalization by former President Hugo Chavez remains a burden for investors. Based on Reuters data, Exxon and ConocoPhillips are still owed arbitration debts totaling $13 billion.
Mike Sommers from the American Petroleum Institute stated that workforce security is a top industry priority. Policy reforms are needed to ensure that contracts can run safely and predictably.
Debt hurdles from past asset expropriations remain a significant constraint for many investors. This makes companies unlikely to rush in despite Venezuela’s massive oil potential.
Energy analysts believe that political comments won't immediately shift long-term business plans. Large-scale energy projects take years to start generating stable returns.
Reference:
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Reuters, Exxon Mobil still interested in Venezuela visit despite Trump rebuke. Accessed on January 13, 2026
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Disclaimer
Gotrade is the trading name of Gotrade Securities Inc., registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
