Monday, January 12, 2026

Trump threatens ExxonMobil after they didn't jump right in

Donald Trump has said he might block ExxonMobil from investing in Venezuela after the oil company's chief executive called the country "uninvestable" during a White House meeting last week.

Darren Woods told the US president that Venezuela would need to change its laws before it could be an attractive investment opportunity, during the high-profile meeting on Friday with at least 17 other oil executives.

Trump had urged the group to spend $100bn to revitalise Venezuela's oil industry in a meeting less than a week after US forces captured and removed Venezuelan president Nicols Maduro from power in a brazen overnight raid.

Woods' sceptical remarks quickly emerged as the dominant headline, undercutting the White House's hopes of building momentum from its engagement with the world's most prominent oil executives.

Comments

... Woods' sceptical remarks ...


More from the cited article ...

... US president says company is playing too cute' after CEO responds sceptically to his push for oil investment after deposing Nicols Maduro. ...

Darren Woods told the US president that Venezuela would need to change its laws before it could be an attractive investment opportunity, ...


#1 | Posted by LampLighter at 2026-01-12 12:06 PM

More from the cited article ...

... Woods told Trump on Friday: "We've had our assets seized there twice, and so you can imagine to re-enter a third time would require some pretty significant changes from what we've historically seen here."

Exxon's CEO said the company needed durable investment protections introduced and that the country's hydrocarbons law also needed to be reformed.

"If we look at the legal and commercial constructs and frameworks in place today in Venezuela today, it's uninvestable," he said.

ConocoPhillips' CEO, Ryan Lance, told Trump that his company was the largest non-sovereign credit holder in Venezuela, and called for a restructuring of the debt and the country's entire energy system, including PDVSA. ...


#2 | Posted by LampLighter at 2026-01-12 12:08 PM

How unusual: Donald Trump is threatening someone.

#3 | Posted by Zed at 2026-01-12 12:29 PM

Trump notified the oil companies he was kidnapping Venezuela's leader.

But he didn't bother asking if they were going to actually support his plans to rebuild Venezuela.

Now that's leadership!

#4 | Posted by snoofy at 2026-01-12 12:37 PM

@#3

Yeah, Pres Trump is threaening (extorting?) the Exxon CEO because the CEO had the audacity to care about shareholder interests and investments.


Granted, I am not a fan of Big Oil.

However, it is worse to my eyes when the President seems to be extorting a CEO.

#5 | Posted by LampLighter at 2026-01-12 12:37 PM

Trunp should just nationalize the oil companies...

#6 | Posted by snoofy at 2026-01-12 12:40 PM

Here is the oil companies response to Trump, in Republican words:

Better opportunity elsewhere. Welcome to the real world.
#13 | Posted by BellRinger

#7 | Posted by snoofy at 2026-01-12 12:41 PM

Trunp should just nationalize the oil companies...

Obviously his view is that the Executive Branch controls the means of production.

#8 | Posted by REDIAL at 2026-01-12 01:28 PM

Trunp should just nationalize the oil companies...
#6 | Posted by snoofy at 2026-01-12 12:40 PM

COMMIE!:]

#9 | Posted by redlightrobot at 2026-01-12 01:37 PM

He needs as many accomplices as possible to make it worthwhile.

#10 | Posted by fresno500 at 2026-01-12 01:52 PM

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