Reviewed by Gotrade Internal Analyst
Jakarta, Gotrade News - President Donald Trump is threatening to block ExxonMobil from projects in Venezuela after its CEO stated the country isn't ready for investment yet. This tension is a major signal for investors regarding the political risks in global energy expansion right now.
Key Takeaways
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Trump says he is "inclined" to block Exxon because of the CEO's skepticism.
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Darren Woods rates Venezuela as "uninvestable" without legal and commercial reforms.
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This conflict complicates US efforts to control Venezuela's oil supply immediately.
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Trump openly called out ExxonMobil's top executive for his skeptical attitude during a strategic meeting at the White House.
As reported by Politico, Trump told reporters that the company is "playing too cute" and he is inclined to keep them out of Venezuela.
CEO Darren Woods previously highlighted that without clear changes to the commercial and legal frameworks, it is currently impossible for foreign capital to enter Venezuela.
According to a Seeking Alpha report, Woods emphasized the need for significant reforms to hydrocarbon laws before any large-scale investment can happen.
These comments are seen as undercutting the Trump administration's narrative, which wants to rebuild the country's oil infrastructure ASAP after the capture of Nicolas Maduro.
Politico notes that attracting US oil companies to rebuild Venezuela is a top priority for the administration right now.
Competitor Stance & History
This situation stands in stark contrast to the position of Chevron Corporation, which has a history of a different negotiation approach in the region.
Seeking Alpha mentions that Chevron stayed as a partner while Exxon and ConocoPhillips chose to leave two decades ago due to the industry's nationalization.
Trump's tough stance confirms that future access to Venezuela's oil reserves will depend heavily on corporate alignment with Washington's political agenda.
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Reference:
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Politico, Trump ‘inclined’ to keep ExxonMobil out of Venezuela after CEO response at White House meeting. Accessed on January 12, 2026
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Seeking Alpha, Trump says could keep Exxon out of Venezuela after CEO called country 'uninvestable'. Accessed on January 12, 2026
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Featured Image: Politico
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.
