What's happened
Following the removal of Venezuelan President Nicolás Maduro, U.S. President Donald Trump criticized ExxonMobil CEO Darren Woods for calling Venezuela "uninvestable" during a White House meeting. Trump expressed reluctance to allow Exxon to invest in Venezuela's oil sector, despite urging U.S. companies to invest $100 billion to rebuild the industry. Legal reforms and past asset seizures remain key obstacles.
What's behind the headline?
Divergent Priorities Between Trump and Oil Majors
The clash between President Trump and ExxonMobil CEO Darren Woods highlights a fundamental tension: Trump seeks to lower oil prices and boost U.S. energy dominance by encouraging massive investment in Venezuela, while oil majors prioritize risk management and shareholder returns over aggressive expansion.
Legal and Political Barriers
Exxon's labeling of Venezuela as "uninvestable" underscores persistent legal uncertainties, including past asset seizures and the need for comprehensive reforms. These issues deter large-scale investment despite the Trump administration's promises of support.
Chevron's Advantage and Industry Dynamics
Chevron, the only major U.S. operator currently active in Venezuela, stands to benefit by expanding production immediately, contrasting with Exxon and ConocoPhillips' cautious stance. This dynamic may reshape U.S. oil interests in Venezuela.
Geopolitical and Economic Implications
Trump's control over Venezuelan oil sales and his executive order protecting oil revenues from seizure aim to leverage U.S. influence over Venezuela's political transition. However, the success of this strategy depends on stabilizing Venezuela's governance and securing investor confidence.
Outlook
Without significant legal reforms and guarantees, Exxon and others will likely remain hesitant, limiting the scale of U.S. investment. Trump's confrontational approach toward Exxon may further complicate cooperation. The situation will evolve as political and economic realities in Venezuela unfold, with potential impacts on global oil markets and U.S. energy policy.
What the papers say
Peter Coy in the New York Times highlights the fundamental disagreement: "Trump wants low oil prices... They’re all about economizing on investment and cutting risk while rewarding shareholders." Sheila Dang at Reuters reports Exxon CEO Darren Woods' insistence on legal reforms and investment protections before committing, noting that "Exxon executives were surprised" by Trump's harsh reaction. The Guardian and NY Post both emphasize Trump's public rebuke of Exxon, quoting him saying, "I didn’t like their response. They’re playing too cute." Business Insider UK contrasts Woods' caution with Chevron's optimism, quoting Chevron's vice chairman Mark Nelson promising to double production "effective immediately." AP News and The Independent report on Trump's executive order to protect Venezuelan oil revenues from seizure, underscoring the administration's efforts to control Venezuela's oil assets. These sources collectively reveal a complex interplay of political ambition, corporate caution, and geopolitical maneuvering shaping the future of Venezuela's oil industry.
How we got here
In early January 2026, U.S. forces captured Venezuelan President Nicolás Maduro, leading to a new interim government. Trump has pushed for U.S. oil companies to invest heavily in Venezuela's oil industry, which was nationalized under Hugo Chávez. ExxonMobil, ConocoPhillips, and Chevron were major partners before nationalization, but legal and financial disputes have complicated re-entry.
Go deeper
- Why does Exxon consider Venezuela uninvestable?
- How is Chevron positioned differently in Venezuela?
- What legal reforms does the U.S. want in Venezuela's oil sector?
Common question
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Why Is the US Investing More in Venezuela's Oil Industry?
The US is increasing its involvement in Venezuela's oil sector amid recent political changes and economic challenges. This move raises questions about US motives, potential impacts on Venezuela's economy, and what it means for global oil markets. Below, we explore the key questions surrounding this evolving situation.
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What Does US Reinvestment in Venezuela Oil Mean for the Global Market?
The US is pushing to reinvest in Venezuela's oil industry amid recent political upheaval. This move raises questions about how it will impact global oil supplies, geopolitical tensions, and US-Venezuela relations. Below, we explore the key questions surrounding this development and what it could mean for the future of energy and international politics.
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Why Is the US Focusing on Latin American Energy Resources Now?
Recent developments show the US increasing its interest in Latin America's energy resources, especially in Venezuela. This shift raises questions about US geopolitical strategies, regional responses, and the potential global impact. Below, we explore the reasons behind this focus and what it means for the future of energy politics.
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What Are the Public Reactions to Farage's Allegations and US Oil Moves?
Recent headlines have sparked intense public and political debate. Allegations against Nigel Farage regarding racist behavior from his school days have resurfaced, prompting questions about his character and the political implications. Meanwhile, the US is pushing to reinvest in Venezuela's oil industry amid geopolitical tensions. This page explores how these stories are being received, the public opinion surrounding them, and what they might mean for the future.
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Are US Oil Companies Planning to Re-Enter Venezuela?
Following recent political changes in Venezuela, US oil companies like Exxon and ConocoPhillips are considering re-investment in the country's oil industry. But what are the real risks and opportunities involved? How does the current political climate influence these decisions? And what could this mean for global oil markets? Below, we explore the key questions surrounding US oil firms' potential return to Venezuela and what it could mean for the energy sector.
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How Are Global Political and Economic Shifts Affecting Us in 2026?
The world is experiencing rapid political upheavals and economic changes that impact markets, investments, and daily life. From conflicts influencing oil prices to shifts in US and UK economies, understanding these developments is crucial. Below, we explore key questions about the current global landscape and what they mean for you.
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Why Did Trump Criticize Exxon Over Venezuela?
In early 2026, tensions between the US government and oil giants like ExxonMobil have come to the forefront amid political upheaval in Venezuela. President Donald Trump publicly rebuked Exxon over its cautious approach to investing in Venezuela's oil industry, raising questions about US policy, legal hurdles, and the future of oil investments in the region. Below, we explore the reasons behind Trump's criticism, the legal issues involved, and what this means for US-Venezuela relations.
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What is the current situation in Venezuela after Maduro's removal?
Venezuela is going through a major political and economic upheaval following the removal of Nicolás Maduro. The country faces a complex mix of government changes, economic collapse, and international reactions. Many are asking what this means for Venezuela's future, its oil industry, and global stability. Below, we explore the key questions about Venezuela's crisis and what might come next.
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Should US Companies Invest in Venezuela Now?
With recent political upheaval and changing US policies, many wonder if it's the right time for US companies to invest in Venezuela's oil industry. The situation is complex, involving legal reforms, geopolitical risks, and economic opportunities. Below, we explore the key questions to help you understand whether now is the right moment for investment and what factors could influence future decisions.
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How Do US Political Statements Impact Global Oil Prices?
US political comments can significantly influence global oil markets. Recent tensions, especially involving major oil companies and geopolitical shifts, often lead to fluctuations in oil prices. Understanding how political rhetoric and policy decisions affect the oil industry helps investors, policymakers, and consumers anticipate market movements. Below, we explore key questions about the relationship between US politics and oil prices, including recent events involving Exxon and Venezuela.
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What Legal Reforms Are Needed for US Companies to Invest in Venezuela?
With Venezuela's political and economic landscape shifting, many wonder what legal changes are necessary for US companies to safely and profitably invest in the country. Past asset seizures and ongoing legal hurdles have made investment complicated, but potential reforms could open new opportunities. Below, we explore the key questions around legal reforms, past impacts, and future prospects for foreign investment in Venezuela.
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What’s next for US-Venezuela relations and the oil industry?
The recent political upheaval in Venezuela and the U.S. response have raised many questions about the future of US-Venezuela relations and the country's oil industry. With the capture of Nicolás Maduro and calls for U.S. investment, many are wondering what lies ahead. Will U.S. companies return to Venezuela? How will political changes impact oil production? Here’s what experts and officials are saying about the road ahead.
More on these topics
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Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
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Nicolás Maduro Moros is a Venezuelan politician serving as president of Venezuela since 2013. His presidency has been disputed by Juan Guaidó since January 2019, although Maduro is the real president.
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Exxon Mobil Corporation, doing business as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller's Standard Oil, and was formed on November 30, 1999 by t
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Darren W. Woods is an American businessman, and the chief executive officer and chairman of ExxonMobil since January 1, 2017.
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Venezuela, officially the Bolivarian Republic of Venezuela, is a country on the northern coast of South America, consisting of a continental landmass and many small islands and islets in the Caribbean Sea.
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Chevron Corporation is an American multinational energy corporation. One of the successor companies of Standard Oil, it is headquartered in San Ramon, California, and active in more than 180 countries.
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Ryan Lance is an American businessman. He serves as the chairman and chief executive officer of ConocoPhillips.