U.S. President Donald Trump on Monday identified ExxonMobil as among the American energy companies that are “going in” to Venezuela. The statement follows the administration's recent announcement of a large-scale deal aimed at giving the U.S. a stake in Venezuela's vast oil reserves and rebuilding the nation's energy sector.
ExxonMobil has declined to comment on the president's remarks. The company has a complex history in the country, having had its assets seized nearly two decades ago. Earlier this year, Exxon's CEO Darren Woods described Venezuela as "uninvestable," which prompted a critical response from President Trump.
While the White House is actively encouraging private investment to revitalize Venezuela's dilapidated oil infrastructure, it remains unclear what, if any, agreements are in place with ExxonMobil. For now, Chevron is the primary U.S. oil major with active operations in the country.