Washington, DC – President Donald Trump said Sunday he is “inclined” to exclude ExxonMobil from future U.S.-led oil investments in Venezuela, following skepticism expressed by the company’s CEO during a high-profile White House meeting last week.
Speaking to reporters aboard Air Force One as he returned from West Palm Beach, Florida, Trump criticized ExxonMobil’s response to his push for major U.S. oil companies to invest at least $100 billion in rebuilding Venezuela’s crumbling petroleum infrastructure following the January 3 U.S. military raid that captured former President Nicolás Maduro.
“I didn’t like Exxon’s response,” Trump said. “They’re playing too cute. I’d probably be inclined to keep Exxon out.”
The comments stem from a Friday roundtable at the White House with executives from nearly 20 oil companies, including ExxonMobil, Chevron, and ConocoPhillips. Trump assured attendees they would deal directly with the U.S. government—not Venezuela—promising “total safety, total security,” and framing the effort as an economic opportunity to revive production from the world’s largest oil reserves while lowering U.S. energy prices.
However, ExxonMobil CEO Darren Woods described the current conditions in Venezuela as “uninvestable,” citing the need for significant changes to legal frameworks, commercial structures, durable investment protections, and hydrocarbon laws. Woods noted the company’s past assets were seized twice under previous regimes, adding that re-entering would require major reforms.
ExxonMobil, the largest U.S. oil company, has not commented further on Trump’s remarks, and a spokesperson did not immediately respond to requests for comment.
The administration has prioritized U.S. oil investment to help rebuild Venezuela’s infrastructure after Maduro’s removal, with Trump seizing tankers of Venezuelan oil, taking control of sales for 30-50 million barrels of previously sanctioned crude, and planning indefinite worldwide sales oversight. An executive order signed Friday protects Venezuelan oil revenues from judicial seizures to support economic and political stability.
Trump’s push comes amid ongoing uncertainty in Venezuela, including a history of nationalizations, sanctions, and political turmoil. While some executives expressed interest, no major commitments were made during the meeting, and industry leaders have stressed the need for reforms before large-scale investments.
The White House continues to frame the post-Maduro transition in economic terms, but Trump’s latest comments signal potential selective participation for companies aligning with his vision.
(Developing story; based on statements from President Trump, ExxonMobil CEO Darren Woods, and reports from AP, Reuters, POLITICO, and other outlets as of January 11-12, 2026. Details subject to updates as the administration’s Venezuela policy evolves.)
