As President Donald Trump pushed U.S. oil companies to commit to invest $100 billion in Venezuela at a White House meeting on Friday, the CEO of ExxonMobil warned the company is far from enlisting.
CEO Darren Woods said that Venezuela is “uninvestable” after Trump asked him how long it would take the firm to restart operations there. He added that “significant changes have to be made to those commercial frameworks, the legal system, there has to be durable investment protections,” and there needs to be a rewrite of the laws governing oil production in Venezuela.
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