Exxon CEO calls Venezuela 'uninvestable' without 'significant changes'

[C_Clayton_Jones]

‘As President Donald Trump pushed U.S. oil companies to commit to invest $100 billion in Venezuela at a White House meeting on Friday, the CEO of ExxonMobil warned the company is far from enlisting.

CEO Darren Woods said that Venezuela is "uninvestable” after Trump asked him how long it would take the firm to restart operations there. He added that “significant changes have to be made to those commercial frameworks, the legal system, there has to be durable investment protections,” and there needs to be a rewrite of the laws governing oil production in Venezuela.

He would only commit to sending a technical team to the country shortly to begin assessing the situation. The exchange underscored how the industry is struggling to chart a course that will please the president without spending recklessly on risky drilling ventures.

The afternoon meeting was attended by several major oil companies in addition to Exxon, including Chevron, ConocoPhilips and Shell. Chevron is the only U.S. firm operational in Venezuela. Trump vowed the companies that commit to pumping in Venezuela will make substantial profits, but the firms, aware of the extremely challenging economics and security concerns around drilling in the unstable Latin American nation, are reticent to commit.’

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wapo.st

Trump’s illegal military action and lawless kidnapping of Maduro was both criminal and pointless.

Given the price of oil, the poor quality of Venezuelan oil, and Venezuela’s ruined oil infrastructure, oil companies have little interest in Trump’s petroleum heist.

 

[Rogue AI]

‘As President Donald Trump pushed U.S. oil companies to commit to invest $100 billion in Venezuela at a White House meeting on Friday, the CEO of ExxonMobil warned the company is far from enlisting.

CEO Darren Woods said that Venezuela is "uninvestable” after Trump asked him how long it would take the firm to restart operations there. He added that “significant changes have to be made to those commercial frameworks, the legal system, there has to be durable investment protections,” and there needs to be a rewrite of the laws governing oil production in Venezuela.

He would only commit to sending a technical team to the country shortly to begin assessing the situation. The exchange underscored how the industry is struggling to chart a course that will please the president without spending recklessly on risky drilling ventures.

The afternoon meeting was attended by several major oil companies in addition to Exxon, including Chevron, ConocoPhilips and Shell. Chevron is the only U.S. firm operational in Venezuela. Trump vowed the companies that commit to pumping in Venezuela will make substantial profits, but the firms, aware of the extremely challenging economics and security concerns around drilling in the unstable Latin American nation, are reticent to commit.’

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wapo.st

Trump’s illegal military action and lawless kidnapping of Maduro was both criminal and pointless.

Given the price of oil, the poor quality of Venezuelan oil, and Venezuela’s ruined oil infrastructure, oil companies have little interest in Trump’s petroleum heist.

The thing keeping oil companies from investing is the fear some dumbass liberal will win the White House and 'end fossil fuels'. Thereby destroying the oil companies' investments. There is also the need for guarantees the Venezuelan government cannot just nationalize the industry without full compensation.

 

[Nuthin' Fancy]

‘As President Donald Trump pushed U.S. oil companies to commit to invest $100 billion in Venezuela at a White House meeting on Friday, the CEO of ExxonMobil warned the company is far from enlisting.

CEO Darren Woods said that Venezuela is "uninvestable” after Trump asked him how long it would take the firm to restart operations there. He added that “significant changes have to be made to those commercial frameworks, the legal system, there has to be durable investment protections,” and there needs to be a rewrite of the laws governing oil production in Venezuela.

He would only commit to sending a technical team to the country shortly to begin assessing the situation. The exchange underscored how the industry is struggling to chart a course that will please the president without spending recklessly on risky drilling ventures.

The afternoon meeting was attended by several major oil companies in addition to Exxon, including Chevron, ConocoPhilips and Shell. Chevron is the only U.S. firm operational in Venezuela. Trump vowed the companies that commit to pumping in Venezuela will make substantial profits, but the firms, aware of the extremely challenging economics and security concerns around drilling in the unstable Latin American nation, are reticent to commit.’

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wapo.st

Trump’s illegal military action and lawless kidnapping of Maduro was both criminal and pointless.

Given the price of oil, the poor quality of Venezuelan oil, and Venezuela’s ruined oil infrastructure, oil companies have little interest in Trump’s petroleum heist.

Just like ANWR, the orange retard was bragging about.

ANWR oil lease sale draws no bids​

E&E News by POLITICO
https://www.eenews.net › Articles
Jan 8, 2025 — ANWR oil lease sale draws no bids ... That's the second Trump-ordered Arctic sale that has gone bust. Arctic National Wildlife Refuge in Alaska yielded no bids this week, the Interior Department announced — capping off decades of debate over the drilling in the vast wildlife refuge.

 

[Nuthin' Fancy]

The thing keeping oil companies from investing is the fear some dumbass liberal will win the White House and 'end fossil fuels'. Thereby destroying the oil companies' investments. There is also the need for guarantees the Venezuelan government cannot just nationalize the industry without full compensation.

WTF?

A president can cancel leases and drilling in Venezuela?

 

[egp320i]

‘As President Donald Trump pushed U.S. oil companies to commit to invest $100 billion in Venezuela at a White House meeting on Friday, the CEO of ExxonMobil warned the company is far from enlisting.

CEO Darren Woods said that Venezuela is "uninvestable” after Trump asked him how long it would take the firm to restart operations there. He added that “significant changes have to be made to those commercial frameworks, the legal system, there has to be durable investment protections,” and there needs to be a rewrite of the laws governing oil production in Venezuela.

He would only commit to sending a technical team to the country shortly to begin assessing the situation. The exchange underscored how the industry is struggling to chart a course that will please the president without spending recklessly on risky drilling ventures.

The afternoon meeting was attended by several major oil companies in addition to Exxon, including Chevron, ConocoPhilips and Shell. Chevron is the only U.S. firm operational in Venezuela. Trump vowed the companies that commit to pumping in Venezuela will make substantial profits, but the firms, aware of the extremely challenging economics and security concerns around drilling in the unstable Latin American nation, are reticent to commit.’

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wapo.st

Trump’s illegal military action and lawless kidnapping of Maduro was both criminal and pointless.

Given the price of oil, the poor quality of Venezuelan oil, and Venezuela’s ruined oil infrastructure, oil companies have little interest in Trump’s petroleum heist.

um, biden had a warrant out for his arrest with a 25m bounty, guess you forgot that detail, eh?
nothing illegal about it, he had the warrant filled end of story

if exxon does not want to make money I am sure chevron is licking their chops

stop being some radical pansy, the world is going to end .........blah blah

oh shit, we can make a deal with a better government to help them pull more oil, they make out, we make out and not china and russia.......oh no the world is going to end........really pathetic

ok doomsday donna.......carry on

 

[kyzr]

Exxon had their assets confiscated twice, they would be dumb to go back to VZ a third time.

Then again, they could partner with one of the companies already there?

 

[Deplorable Yankee]

It's not even a week and they're already calling it a failure

No one's gonna go
Trump failed reeeeeeeeeeeee

 

[Mac1958]

The only way these companies get involved is either (a) Trump gives them some insane incentives that virtually protect them from loss, or (b) Trump threatens them, which is his impulse.

They know damn well how completely unstable and unserious this is, and I'm not talking about the mess in Venezuela.

 

[frigidweirdo]

‘As President Donald Trump pushed U.S. oil companies to commit to invest $100 billion in Venezuela at a White House meeting on Friday, the CEO of ExxonMobil warned the company is far from enlisting.

CEO Darren Woods said that Venezuela is "uninvestable” after Trump asked him how long it would take the firm to restart operations there. He added that “significant changes have to be made to those commercial frameworks, the legal system, there has to be durable investment protections,” and there needs to be a rewrite of the laws governing oil production in Venezuela.

He would only commit to sending a technical team to the country shortly to begin assessing the situation. The exchange underscored how the industry is struggling to chart a course that will please the president without spending recklessly on risky drilling ventures.

The afternoon meeting was attended by several major oil companies in addition to Exxon, including Chevron, ConocoPhilips and Shell. Chevron is the only U.S. firm operational in Venezuela. Trump vowed the companies that commit to pumping in Venezuela will make substantial profits, but the firms, aware of the extremely challenging economics and security concerns around drilling in the unstable Latin American nation, are reticent to commit.’

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wapo.st

Trump’s illegal military action and lawless kidnapping of Maduro was both criminal and pointless.

Given the price of oil, the poor quality of Venezuelan oil, and Venezuela’s ruined oil infrastructure, oil companies have little interest in Trump’s petroleum heist.

Oh look, Trump says "this is going to happen" and then because he didn't do his research, gets told that it's ******* stupid.

What a surprise. The only people who might be surprised by this are the MAGA who can't even read.

 

[wamose]

Relax, Qdog. Trumpy got this thing covered.