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'Uninvestable': Trump mulls barring Exxon Mobil from operating in Venezuela

image sourced from original article at https://www.jpost.com/american-politics/article-883037

US President Donald Trump has suggested he may block Exxon Mobil from investing in Venezuela after the company's chief executive described the country as 'uninvestable' during a recent White House meeting. The comments came as Trump urged major oil executives to commit $100 billion to revitalize Venezuela's oil sector, following the removal of President Nicolas Maduro by US forces.

Exxon Mobil and other major oil producers have expressed caution about returning to Venezuela, citing past asset seizures and the need for significant legal reforms. The skepticism from Exxon Mobil's leadership has cast doubt on the White House's efforts to attract investment and rebuild the country's energy industry.

Trump stated that he was dissatisfied with Exxon's response and hinted at barring the company from future operations in Venezuela. He also emphasized that any deals would be made directly with the US government, not with Venezuelan authorities. An executive order was signed to protect Venezuelan oil revenues held in US accounts from being seized by courts or creditors.

Original article source: https://www.jpost.com/american-politics/article-883037
Source Id: 9038867752

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