President Donald Trump expressed strong displeasure with ExxonMobil's response to potential Venezuelan oil investments, stating he is "inclined" to exclude the company from future operations in the country. Speaking to reporters on Air Force One while departing West Palm Beach, Florida, Trump criticized the oil giant's approach, saying "I didn't like Exxon's response. They're playing too cute."

White House Meeting Reveals Industry Skepticism

During a Friday meeting with oil executives, Trump attempted to encourage investment in Venezuela by assuring companies they would be dealing directly with the United States government rather than Venezuelan authorities. Despite these assurances, several executives remained unconvinced about the investment prospects.

Darren Woods, CEO of ExxonMobil, the largest US oil company, expressed significant reservations about the commercial viability of Venezuelan operations. "If we look at the commercial constructs and frameworks in place today in Venezuela, today it's uninvestable," Woods stated during the meeting.

Executive Order Protects Venezuelan Oil Revenue

Trump signed an executive order on Friday, made public Saturday, aimed at protecting Venezuelan oil revenue from being used in judicial proceedings. The order emphasizes that seizure of these funds could "undermine critical US efforts to ensure economic and political stability in Venezuela."

Investment Challenges in Venezuela

Venezuela presents multiple investment challenges that concern US oil companies:

• History of state asset seizures
• Ongoing US sanctions
• Decades of political uncertainty
• Unstable commercial frameworks

Trump Administration's Venezuelan Strategy

Getting US oil companies to invest in Venezuela and help rebuild the country's infrastructure represents a top priority for the Trump administration following Maduro's removal from power. The White House is positioning this effort in economic terms as part of broader plans to "run" Venezuela.

Trump has implemented several measures regarding Venezuelan oil operations, including seizing tankers carrying Venezuelan oil and taking control of sales for 30 million to 50 million barrels of previously sanctioned Venezuelan crude. The administration plans to control these sales worldwide indefinitely.

Industry Response and Future Implications

The mixed response from oil executives highlights the complex challenges facing US energy companies considering Venezuelan investments. While the Trump administration offers direct government backing and protection measures, industry leaders remain cautious about the commercial viability and long-term stability of operations in the country.

ExxonMobil's skeptical stance, which drew Trump's criticism, reflects broader industry concerns about investing in a country with a troubled economic and political history. The administration's efforts to encourage investment through government assurances and protective measures will likely face continued scrutiny from companies evaluating the risk-reward balance of Venezuelan operations.