Headline Roundup • January 13th, 2026
Exxon CEO Calls Venezuela 'Uninvestable', Trump Threatens to Bar Company From Market
Summary from the AllSides News Team
President Donald Trump threatened to bar American oil giant ExxonMobil from the Venezuelan market after the company's CEO called the country "uninvestable."
The Details: On Sunday, Trump said that ExxonMobil "could be excluded" from future US involvement in Venezuela after CEO Darren Woods voiced concern about past asset seizures, weak legal protections, and the need for Venezuela to make major changes to their hydrocarbon laws. Since his remarks, shares in ExxonMobil have dropped 1.03% to $123.33 per share, while shares of ConocoPhillips and Chevron rose .50% and .83%, respectively.
Key Quotes: "If we look at the legal and commercial constructs - frameworks - in place today in Venezuela today, it's uninvestable," Woods said in remarks to Trump. Trump later said, "I didn't like Exxon's response. You know, we have so many that want it. I'd probably be inclined to keep Exxon out. I didn't like their response."
For Context: Trump's threats come after a White House meeting on Friday with oil industry leaders to discuss Venezuela infrastructure investment. After the meeting, Trump announced that Venezuela would be giving 30 to 50 million barrels of oil to the US and that the US would control future oil sales. Meanwhile, policy analysts and Venezuelan commentators are considering what the future of Venezuela might look like.
How the Media Covered It: The story was covered widely across the spectrum. Axios (Lean Left bias) reported that Trump has promised security guarantees but has not provided details on this plan or committed to an American military presence. The Guardian (Lean Left) noted that the White House's hopes of building momentum for investment in Venezuela were undercut by Woods' skeptical remarks. The Washington Times (Lean Right) reported that Trump tried to downplay ExxonMobil's concerns by saying that they would be dealing with the U.S. rather than the Venezuelan government.
Written by the AllSides staff (of humans). Learn more. Suggest an improvement to this summary.
Featured Coverage of this Story
Brendan Smialowski/AFP via Getty Images / Getty Images
President Donald Trump signaled Sunday that ExxonMobil could be excluded from any future U.S. involvement in Venezuela's oil sector, saying he was unhappy with the company's response following a meeting at the White House last week.
Trump told reporters aboard Air Force One that the oil giant was "playing too cute."
"I didn't like Exxon's response. You know, we have so many that want it. I'd probably be inclined to keep Exxon out. I didn't like their response," he said.
ExxonMobil CEO Darren Woods told the administration on Friday at...
Donald Trump has said he might block ExxonMobil from investing in Venezuela after the oil company's chief executive called the country "uninvestable" during a White House meeting last week.
Darren Woods told the US president that Venezuela would need to change its laws before it could be an attractive investment opportunity, during the high-profile meeting on Friday with at least 17 other oil executives.
Trump had urged the group to spend $100bn to revitalise Venezuela's oil industry in a meeting less than a week after US forces captured and removed...
How Has The Market Reacted?
In premarket trading early on Monday, Exxon Mobil's shares fell 1.03% to $123.33. The company's share price had risen by 1.38% on Friday following the White House meeting. While Exxon's down in the premarket, shares of rivals ConocoPhillips and Chevron rose 0.50% and 0.83%, respectively.
What Did The Exxon Ceo Say At The White House Meeting?
During a gathering of top oil industry executives at the White House on Friday, Woods said: "We have a very long history in Venezuela…We've had our assets seized there...
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