American President Donald Trump criticized ExxonMobil after CEO Darren Woods stated that Venezuela is "uninvestable" without legal reforms.

During a meeting at the White House, Donald Trump tried to convince leaders in the oil industry to invest 100 billion dollars in revitalizing the oil sector in Venezuela, but Woods' comments undermined these efforts. Trump stated that he might exclude Exxon from future investments, emphasizing that he does not like the company's response. Exxon, along with ConocoPhillips and Chevron, has had a complicated relationship with Venezuela, considering the nationalization of the industry by former president Hugo Chavez.

Darren Woods emphasized the need for sustainable protections for investments and legislative changes to make Venezuela an attractive opportunity. Trump stated that his administration will decide which firms will be allowed to operate in Venezuela, excluding direct interactions with the Venezuelan government.