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Saturday, Jan 10, 2026
Outside the box.
ExxonMobil Warns President Trump That Venezuela Remains Uninvestable
Chief executive Darren Woods resists calls to rapidly reenter Venezuela, citing unresolved risks and structural instability in the country’s energy environment
ExxonMobil has formally advised President Donald Trump that Venezuela remains an uninvestable environment, despite interest from the administration in encouraging a renewed U.S. energy presence in the country.
The company’s chief executive, Darren Woods, conveyed that position directly, pushing back against calls to move quickly back into Venezuela’s oil sector.
His assessment reflects ExxonMobil’s view that the underlying conditions required for stable, long-term investment have not been restored.
The exchange highlights a clear divergence between strategic policy ambition and corporate risk evaluation.
While the administration has expressed interest in expanding American energy influence and reassessing engagement with resource-rich states, ExxonMobil has signaled that commercial viability, legal certainty, and operational security remain decisive factors.
No timeline or pathway for reentry was outlined, and no commitment was made to alter ExxonMobil’s current posture toward Venezuela.
The company’s position suggests that, from a corporate governance perspective, existing conditions still fail to meet minimum investment thresholds.
The episode underscores the limits of political momentum when confronted with unresolved structural risk.
The company’s chief executive, Darren Woods, conveyed that position directly, pushing back against calls to move quickly back into Venezuela’s oil sector.
His assessment reflects ExxonMobil’s view that the underlying conditions required for stable, long-term investment have not been restored.
The exchange highlights a clear divergence between strategic policy ambition and corporate risk evaluation.
While the administration has expressed interest in expanding American energy influence and reassessing engagement with resource-rich states, ExxonMobil has signaled that commercial viability, legal certainty, and operational security remain decisive factors.
No timeline or pathway for reentry was outlined, and no commitment was made to alter ExxonMobil’s current posture toward Venezuela.
The company’s position suggests that, from a corporate governance perspective, existing conditions still fail to meet minimum investment thresholds.
The episode underscores the limits of political momentum when confronted with unresolved structural risk.
