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"Exxon CEO wants "significant changes" to the status quo in Venezuela, calling it "uninvestible"...

Author: TyroneIrish (23169 Posts - Joined: Oct 8, 2020)
Posted at 5:12 pm on Jan 9, 2026
View All

...from the attached article...clearly this was a hap-hazard attack with no long term planning whatsoever...par for the course with anything Trump does.
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ExxonMobil CEO Darren Woods said with extraordinary bluntness at a White House gathering of oil executives Friday that the company would not be diving headfirst into Venezuela, saying the current situation on the ground presents an unacceptable risk to the company.

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

Exxon left Venezuela in 2007 when the Chavez regime nationalized the oil industry. Exxon wouldn’t accept the country’s terms, and the government seized the company’s assets there.

To return in full and restore Venezuela’s dilapidated oil infrastructure, Woods suggested Exxon would need to be convinced that the country had a stable political system, protections from crime and theft, and changes to Venezuela’s laws that require foreign companies to enter majority-government-run joint ventures and taxes of 60% on oil proceeds.

Woods said he was confident the Trump administration could make those necessary changes. But to even understand what kind of return on investment Exxon would get from Venezuela, Woods said a number of questions need to be answered first.

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Link: https://www.cnn.com/world/live-news/trump-venezuela-01-09-26?post-id=cmk7c9vp00000356qlv0u93o3

This message has been edited 1 time(s).

Replies to: ""Exxon CEO wants "significant changes" to the status quo in Venezuela, calling it "uninvestible"..."

  • "Exxon CEO wants "significant changes" to the status quo in Venezuela, calling it "uninvestible"... [LINK] - TyroneIrish - 5:12pm 1/9/26 (4) [View All]
    • Just like the UK or NYC [NT] - LanceManion - 5:28pm 1/9/26
      • Not all that bad...as deflections go ;-)...care to offer any observations on DJT's "Special Military - TyroneIrish - 5:58pm 1/9/26
        • Is there any US military in Venezuela? What have I missed? I was out running erands today. [NT] - NedoftheHill - 6:43pm 1/9/26
          • If DJT expects to have Exxon Mobil building oil production infrastructure, there better be some...oh - TyroneIrish - 8:21pm 1/9/26

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