Exxon CEO calls Venezuela 'uninvestable' during meeting with Trump

Core Insights - President Trump's $100 billion plan to invest in Venezuela's oil industry received a muted response from US energy executives, with Exxon CEO describing the country as "uninvestable" at present [1][2] - Significant changes to Venezuela's legal and commercial frameworks are necessary for investment, according to Exxon CEO Darren Woods, who expressed confidence that the US could facilitate these changes [2] - Trump has been advocating for US oil firms to invest in Venezuelan energy infrastructure following the ousting of Nicolás Maduro, promising "total safety and security" for operations [4][5] Company Responses - ExxonMobil's CEO Darren Woods emphasized the need for durable investment protections and changes to hydrocarbon laws in Venezuela before considering investment [2] - Harold Hamm, founder of Continental Resources, acknowledged the challenges of entering Venezuela but expressed excitement about exploration opportunities [5] - Chevron's vice chairman Mark Nelson stated that the company is "committed" to Venezuela and may increase production by approximately 50% over the next 18 to 24 months [6]