Donald Trump threatens to block ExxonMobil from Venezuela
Financial Times••nation
Key Points:
- President Donald Trump expressed displeasure with ExxonMobil's CEO for calling Venezuela "uninvestable" and suggested he might block the company from investing there.
- ExxonMobil CEO Darren Woods cited past asset seizures and current legal and commercial challenges as reasons for caution, though he indicated a technical team would soon assess conditions in Venezuela.
- The US government is actively negotiating with western oil firms to secure at least $100 billion in private investment aimed at reviving Venezuela's oil sector, which has drastically declined due to mismanagement, corruption, and sanctions.
- Trump assured oil companies that their investments in Venezuela would be safe under his administration, contrasting past difficulties with his leadership.
- Chevron, currently operating in Venezuela, claims it could increase production
