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Investing.com -- U.S. President Donald Trump said he may sidelineExxon Mobilfrom Venezuela’s energy sector, criticizing the company’s response to his push for U.S. oil producers to move quickly back into the country.
“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,” Trump told reporters aboard Air Force One on Sunday. “They’re playing too cute,” he added.
Trump’s comments followed remarks by Exxon Chief Executive Darren Woods, who said at a White House meeting that Venezuela is currently “uninvestable.”
Woods argued that Exxon would need to see meaningful changes to commercial terms, the legal system, and hydrocarbon laws, along with what he described as durable protections for foreign investment.
“We’re confident that with this administration and President Trump working hand-in-hand with the Venezuelan government that those changes can be put in place,” Woods said, adding that Exxon is prepared to send a technical team to assess the state of Venezuela’s oil assets and infrastructure.
The company previously exited the country after the national government seized Exxon’s and ConocoPhillips’ assets in 2007.
Exxon shares were down about 1.1% in premarket trading on Monday.
