Trump Mulls Blocking ExxonMobil From Venezuela After CEO Calls Country ‘Uninvestable’
Aboard Air Force One. President Donald Trump said Sunday he is “inclined” to keep ExxonMobil out of Venezuela after the company’s top executive voiced skepticism about investing in the country following the toppling of former President Nicolás Maduro.
“I didn’t like Exxon’s response,” Trump told reporters aboard Air Force One as he departed West Palm Beach, Florida. “They’re playing too cute.”
During a meeting on Friday with oil executives, Trump sought to ease industry concerns, telling companies they would deal directly with the US government rather than Venezuelan authorities.
Some executives, however, remained unconvinced.
“If we look at the commercial constructs and frameworks in place in Venezuela today, it’s uninvestable,” said Darren Woods, chief executive of ExxonMobil, the largest U.S. oil company.
An ExxonMobil spokesperson did not immediately respond to a request for comment Sunday.
Also on Friday, Trump signed an executive order aimed at protecting Venezuelan oil revenue from being seized in judicial proceedings. The order, made public Saturday, warns that such seizures could “undermine critical US efforts to ensure economic and political stability in Venezuela.”
Venezuela has a long history of state asset seizures, US sanctions, and political instability.
Securing US oil investment to help rebuild Venezuela’s infrastructure has become a top priority for the Trump administration following Maduro’s capture.
The White House has framed its approach to Venezuela largely in economic terms. Trump has seized tankers carrying Venezuelan oil, said the US is taking over sales of 30 million to 50 million barrels of previously sanctioned crude, and indicated plans to control those sales globally for the foreseeable future.
Tags: Keywords:Related Articles
Trump Backs Away From Plan to Charge Fees in the Strait of Hormuz
Iran responded with attacks targeting Bahrain, Jordan, and three tankers that traveled through the strait.S&P Rating Boost Keeps Jakarta Stocks Above 6,000 at Tuesday Open
JCI rose at Tuesday's open after S&P reaffirmed Indonesia's BBB rating, offsetting cautious global sentiment.Iran Peace Talks Spark Late Rally in Indonesian Stocks
JCI recovered from a sharp midday drop to close higher as hopes for renewed US-Iran talks and a steady IMF outlook lifted sentiment.US and Iran Exchange More Attacks Across the Mideast
An Iranian official accused the US of launching an airstrike later Thursday targeting the area around Iran's sole nuclear power plant.Rupiah Plunges to Rp 18,128 as US-Iran Tensions Escalate
Rupiah plunges to Rp 18,128 per dollar as escalating US-Iran tensions and weaker consumer confidence weigh on sentiment.JCI Rebounds on ADB’s 5.2% Indonesia Growth Forecast
JCI rebounded 0.67% to 5,912, supported by ADB's forecast that Indonesia's economy will grow 5.2% in 2026 and 2027.JCI Suffers 2% Selloff After S&P Watchlist, Iran Escalation
Indonesia's JCI lost 1.89% as rising Middle East tensions and S&P's watchlist review of the market sparked broad investor selling.Trump Says 'Thank You, FIFA' After Balogun Suspension Is Lifted
FIFA lifts Folarin Balogun's World Cup suspension after Donald Trump urges a review, prompting outrage from Belgium.US-China Rivalry in ASEAN Is Here to Stay, Trump or No Trump
Whoever is the US president, major power competition will remain, Indonesian presidential aide Mari Elka Pangestu tells ASEAN.Pentagon Asks Congress for Roughly $80 Billion to Cover Cost of Iran War
The White House has requested a remarkable $1.5 trillion for the Pentagon — a nearly 50% increase over the current funding levels.The Latest
New BGN Chief Faces Fresh Mass Food Poisoning Case Nine Days Into Role
More than 700 students and teachers fell ill in the latest food poisoning case linked to Indonesia's free meals program.SEZs Draw $1.8 Billion in Investment as Indonesia Expands Industrial Hubs
Indonesia's Special Economic Zones attracted Rp 32 trillion in investment in the first half, with foreign investors leading the way.Prabowo Says South Korea's Lee Asked Indonesia to Help Open Dialogue With North Korea
President Prabowo Subianto says South Korea's Lee Jae Myung asked Indonesia to help open dialogue with North Korea.Pullman Hotel Fire in Jakarta Suspected to Stem From Electrical Fault
Police will deploy a forensic team to investigate a fire at Pullman Hotel in West Jakarta, with an electrical fault suspected as the cause.Pertamina Slashes Prices of Three Fuels From Aug. 1
Pertamina cut prices for three non-subsidized fuels from Aug. 1.Most Popular
