Darren Woods, president and main enforcement serviceman Exxon Mobil Corp., during a gathering with lipid executives successful the East Room of the White House successful Washington, DC, US, connected Friday, Jan. 9, 2026.
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U.S. President Donald Trump threatened to sideline Exxon Mobil from Venezuela's vigor market, saying helium didn't similar their effect to his calls for lipid companies to rapidly re-enter the South American country.
"I didn't similar Exxon's response. You cognize we person truthful galore that privation it. I'd astir apt beryllium inclined to support Exxon out," Trump told reporters connected committee Air Force One connected Sunday.
"They're playing excessively cute," helium added.
His comments travel soon aft Exxon CEO Darren Woods made headlines for saying astatine a White House gathering with Trump that the Venezuelan marketplace is "uninvestable" successful its existent state.
An Exxon spokesperson did not instantly respond to a petition for comment. Shares were 1% little successful premarket commercialized connected Monday.
Speaking alongside respective different American lipid executives connected Friday, Woods said Exxon would request to spot "some beauteous important changes" if it was to re-enter the state for a 3rd time.
Venezuela seized Exxon's and ConocoPhillips's assets successful 2007, and Caracas owes the companies billions of dollars successful outstanding claims from arbitration cases.
Woods said the institution would request to spot changes to commercialized frameworks, the ineligible strategy and hydrocarbon laws, alongside what helium described arsenic "durable" concern protections.
"We're assured that with this medication and President Trump moving hand‑in‑hand with the Venezuelan authorities that those changes tin beryllium enactment successful place," Woods said.
He added that Exxon was prepared to nonstop a method squad to measure the existent authorities of Venezuela's lipid manufacture and assets.
$100 cardinal push
Trump has been pushing for U.S. lipid companies to put astatine slightest $100 cardinal successful Venezuela's vigor sector, pledging to enactment them with authorities information assistance.
The telephone follows an audacious U.S. subject operation successful Venezuela connected Jan. 3 to depose Venezuelan President Nicolas Maduro and his wife, Cilia Flores.
U.S. President Donald Trump takes questions from the members of the property aboard Air Force One connected January 11, 2026 en way backmost to the White House from Palm Beach, Florida.
Samuel Corum | Getty Images News | Getty Images
Asked by a newsman for clarity connected the benignant of backstops and information guarantees that would beryllium provided to lipid companies, Trump did not supply circumstantial details.
"We are going to person guarantees," Trump said. "They had problems successful the past due to the fact that they didnt person Trump arsenic a president," helium added.
U.S. lipid firms acknowledged that Venezuela, which boasts the world's largest lipid reserves, represents an intriguing accidental but immoderate person expressed caution astir rushing successful to re-enter.
Chevron is presently the lone large American lipid steadfast inactive operating successful Venezuela.
— CNBC's Spencer Kimball contributed to this report.
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