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Trump slams ExxonMobil over Venezuela, threatens to block future deals
(MENAFN) President Donald Trump expressed dissatisfaction on Sunday with ExxonMobil after its chief executive described Venezuela as “uninvestable,” hinting that the company might be excluded from future U.S.-backed ventures in the country’s energy sector.
While speaking to reporters aboard Air Force One, Trump criticized CEO Darren Woods’ remarks, which were made during a meeting at the White House with oil and gas executives. “I didn't like Exxon response,” Trump said. “I'll probably be inclined to keep Exxon out. I didn't like their response. They're playing too cute.”
At that same meeting, Trump announced that American firms would commit at least $100 billion to quickly rebuild Venezuela’s struggling oil industry. Woods, however, pushed back, citing the company’s history of asset seizures in the country. “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,” he explained.
The comments come in the wake of a U.S. military operation on January 3 that resulted in the capture of Venezuelan President Nicolás Maduro and his wife, Cilia Flores. Trump has since stated that Washington will oversee Venezuela and its oil resources during a transitional period.
On Friday, Trump revealed he had called off a second round of military strikes, pointing to improved cooperation from Venezuela’s interim authorities. Meanwhile, a U.S. delegation of diplomatic and security officials traveled to Caracas to evaluate the possibility of reopening the American embassy.
While speaking to reporters aboard Air Force One, Trump criticized CEO Darren Woods’ remarks, which were made during a meeting at the White House with oil and gas executives. “I didn't like Exxon response,” Trump said. “I'll probably be inclined to keep Exxon out. I didn't like their response. They're playing too cute.”
At that same meeting, Trump announced that American firms would commit at least $100 billion to quickly rebuild Venezuela’s struggling oil industry. Woods, however, pushed back, citing the company’s history of asset seizures in the country. “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,” he explained.
The comments come in the wake of a U.S. military operation on January 3 that resulted in the capture of Venezuelan President Nicolás Maduro and his wife, Cilia Flores. Trump has since stated that Washington will oversee Venezuela and its oil resources during a transitional period.
On Friday, Trump revealed he had called off a second round of military strikes, pointing to improved cooperation from Venezuela’s interim authorities. Meanwhile, a U.S. delegation of diplomatic and security officials traveled to Caracas to evaluate the possibility of reopening the American embassy.
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