Darren Woods, chairman and chief executive officer Exxon Mobil Corp., during a meeting with oil executives in the East Room of the White House in Washington, DC, US, on Friday, Jan. 9, 2026.<\/p>\n
Bloomberg | Bloomberg | Getty Images<\/p>\n
U.S. President Donald Trump<\/a> threatened to sideline Exxon Mobil<\/a> from Venezuela’s energy market, saying he didn’t like their response to his calls<\/a> for oil companies to quickly re-enter the South American country.<\/p>\n “I didn’t like Exxon’s response. You know we have so many that want it. I’d probably be inclined to keep Exxon out,” Trump told reporters on board Air Force One on Sunday. <\/p>\n “They’re playing too cute,” he added. <\/p>\n His comments come shortly after Exxon CEO Darren Woods made headlines<\/a> for saying at a White House meeting with Trump that the Venezuelan market is “uninvestable<\/a>” in its current state. <\/p>\n An Exxon spokesperson did not immediately respond to a request for comment. Shares were last seen 1.1% lower in premarket trade on Monday.<\/p>\n Speaking alongside several other American oil executives on Friday, Woods said Exxon would need to see “some pretty significant changes” if it was to re-enter the country for a third time. <\/p>\n Venezuela seized Exxon’s and ConocoPhillips<\/a>‘s assets in 2007, and Caracas owes the companies billions of dollars in outstanding claims from arbitration cases. <\/p>\n Woods said the company would need to see changes to commercial frameworks, the legal system and hydrocarbon laws, alongside what he described as “durable” investment protections.<\/p>\n “We’re confident that with this administration and President Trump working hand\u2011in\u2011hand with the Venezuelan government that those changes can be put in place,” Woods said.<\/p>\n He added that Exxon was prepared to send a technical team to evaluate the current state of Venezuela’s oil industry and assets.<\/p>\n $100 billion push<\/p>\n Trump has been pushing for U.S. oil companies to invest at least $100 billion in Venezuela’s energy sector, pledging to support them with government security assistance.<\/p>\n