U.S. President Donald Trump is considering blocking ExxonMobil (NYSE: XOM) from being included in new plans for Venezuela's oil industry.
Late last week Trump called a meeting of around 17 oil executives at the White House to discuss an overhaul of oil in Venezuela, which comes after weeks of escalating conflict, with U.S. forces seizing Venezuelan oil tankers and most recently the nation's leader; President Nicolas Maduro.
At the meeting, Trump encouraged the assembled oil execs to invest US$100 billion in this revitalisation plan, however ExxonMobil CEO, Darren Woods, was not convinced.
Woods told Trump that Venezuela as it currently stands is “uninvestable” and would need a “significant changes” in laws before it could be considered a viable investment opportunity.
Later in the weekend, before boarding Air Force One, Trump told reporters that he “didn’t like Exxon’s response”.
“I’ll probably be inclined to keep Exxon out. I didn’t like their response," he said.
"They’re playing too cute.”
