AdvertisementAdvertisementAn ExxonMobil fuel storage and distribution facility is shown in Irving, Texas, on Jan 25, 2023. (File photo: AP/LM Otero)12 Jan 2026 09:18AM (Updated: 12 Jan 2026 09:23AM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST United States President Donald Trump said on Sunday (Jan 11) that he might block Exxon Mobil from investing in Venezuela after the oil major's CEO called the country "uninvestable" during a White House meeting last week.Exxon CEO Darren Woods told Trump that Venezuela would need to change its laws before it could be an attractive investment opportunity, during a White House meeting on Friday with other oil executives. His comments were a blow to Trump's goal of convincing US oil firms to spend billions of dollars to revitalise Venezuela's oil industry."I didn't like Exxon's response," Trump told reporters on Air Force One on his way back to Washington on Sunday. "I'll probably be inclined to keep Exxon out. I didn't like their response. They're playing too cute."CEO of ExxonMobil Darren Woods and CEO of Marathon Petroleum Maryann Mannen attend US President Donald Trump's meeting with oil industry executives at the White House in Washington, DC, US, on Jan 9, 2026. (Photo: Reuters/Kevin Lamarque)Exxon did not immediately respond to a request for comment."We've had our assets seized there twice, and so you can imagine to re-enter a third time would require some pretty significant changes from what we've historically seen here," Woods told Trump at the White House on Friday.Woods said that Exxon needed durable investment protections introduced, and the country's hydrocarbons law also needed to be reformed."If we look at the legal and commercial constructs and frameworks in place today in Venezuela today, it's uninvestable," he said at the time.US says it needs to control Venezuelan oil sales indefinitely to drive changeVenezuela to export US$2 billion worth of oil to US in deal with WashingtonSource: Reuters/rlSign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST