After Venezuelan President Nicolas Maduro was captured by U.S. forces and brought to the United States to face charges, President Donald Trump began pushing for U.S. oil producers to start working in the country.
But Exxon Mobil (XOM) may be on the outside looking in. CEO Darren Woods recently made remarks at a White House meeting that Venezuela and its massive oil reserves are currently “uninvestable,” and that Exxon would require changes to commercial terms, Venezuela’s legal system, hydrocarbon laws, and protections for foreign investment before the company could be involved.
