Trump ‘inclined’ to keep ExxonMobil out of Venezuela

HUNT VALLEY, Md. (TNND) — President Donald Trump is inclined to keep ExxonMobil out of Venezuela, he said Sunday.

He told reporters aboard Air Force One that he may exclude the oil and gas company from Venezuelan oil activities after its chief executive publicly expressed concern with them. Chairman and CEO Darren Woods said at a White House meeting with Trump and other oil executives on Friday that Venezuela is “uninvestable.”

“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 said.

“I didn’t like their response. They’re playing too cute.”

Trump asked Woods at the meeting to speak after the president expressed hope that companies would invest in Venezuela. Woods said in response that there would need to be significant changes in the country’s legal and commercial frameworks in order to produce oil there. ExxonMobil’s property has been seized twice since it began working in Venezuela in the 1940s, the executive explained.

“And so, you can imagine to re-enter a third time would require some pretty significant changes from what we’ve historically seen here and what is currently the state,” Woods said.

“If we look at the legal and commercial constructs and frameworks in place today in Venezuela, today it’s un-investable. And so significant changes have to be made to those commercial frameworks, the legal system, there has to be durable investment protections, and there has to be a change to the hydrocarbon laws in the country,” the executive added.

Trump said on Sunday that he has guaranteed companies they won’t have any problems. Oil executives only had issues in the past because “stupid people” were presidents, Trump noted.

“We’re gonna have guarantees that they’re gonna be safe, that there’s gonna be no problem, and there won’t be,” the president told reporters.

The National News Desk requested comment from ExxonMobil but hasn’t received a response. Woods said during his remarks that he was confident the Trump administration will work with the Venezuelan government to implement necessary changes, though.

“With the invitation of the Venezuelan government and with appropriate security guarantees, we are ready to put a team on the ground there,” Woods said. “We also have a integrated set of capabilities, from production to refining to trading, and I think we can be of assistance to getting the Venezuelan crude to market and realizing market price to help again with the financial situation in Venezuela.”

Have questions, concerns or tips? Send them to Ray at rjlewis@sbgtv.com.