On Sunday, President Donald Trump expressed a preference for excluding ExxonMobil from ventures in Venezuela, citing the company’s hesitation regarding oil investments following the overthrow of former President Nicolás Maduro.
Speaking aboard Air Force One as he left West Palm Beach, Florida, Trump commented, “I wasn’t impressed with Exxon’s reaction. They’re being overly cautious.”
In an attempt to reassure oil industry leaders during a meeting on Friday, Trump emphasized that their dealings would be directly with the U.S. rather than the Venezuelan authorities.
Despite these reassurances, some executives remained skeptical.
Darren Woods, the CEO of ExxonMobil, the largest oil company in the U.S., stated, “Given the current commercial setups and regulations in Venezuela, investing there today is not feasible.”
___
Seung Min Kim reported from West Palm Beach, Florida.
Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
