Oil giant TotalEnergies on Trump's Venezuela dream: ‘Too expensive and too polluting'

Core Viewpoint - TotalEnergies CEO Patrick Pouyanné stated that returning to Venezuela is "too expensive and too polluting," despite calls from the Trump administration for U.S. oil companies to invest in the country [1][2]. Group 1: Company Position - TotalEnergies exited Venezuela in 2022, citing a clash with its strategic goals, emphasizing that the situation remains unchanged regarding costs and environmental concerns [2]. - The company has not provided immediate comments regarding the situation when contacted by media [3]. Group 2: Industry Context - The Trump administration has urged U.S. energy companies to invest $100 billion to rebuild Venezuela's oil industry, promising government security assistance to those who comply [3]. - Despite Venezuela having the world's largest oil reserves, some U.S. oil firms, including Exxon Mobil, have expressed caution about re-entering the market [3].