Exxon Mobil CEO Darren Woods, seated to the right, listens as U.S. President Donald Trump, left, speaks during a meeting with oil company executives in the East Room of the White House in Washington, DC on Jan. 9, 2026. President Trump is aiming to convince oil executives to support his plans in Venezuela, a country whose energy resources he says he expects to control for years to come. U.S. forces seized Venezuelan president Nicolas Maduro in a sweeping military operation on Jan. 3, with Trump making no secret that control of Venezuela's oil was at the heart of his actions. (Credit: Getty Images)
As other oil executives lavished President Trump with praise at the White House, Exxon Mobil CEO Darren Woods bluntly said the Venezuelan oil industry is currently “uninvestable,” and that major reforms are required before even considering committing the many billions of dollars required to revitalize the country’s dilapidated crude business.
Two days later, a miffed Trump told reporters Jan. 11 that he would “probably be inclined to keep Exxon out” of Venezuela. “I didn’t like their response. They’re playing too cute,” Trump said.
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