President Trump suggests ONE titanic oil company may not gain access to Venezuela

While returning to the White House aboard Air Force One, President Trump suggested that ExxonMobil, the largest U.S. oil company, was ‘playing too cute’

by Summer Lane | January 12, 2026

President Trump suggested this week that ExxonMobil, the largest oil company in the United States, may be on the outs when it comes to potentially investing in the mammoth oil reserves in Venezuela – reserves now under the control of the United States, thanks to the decisive success of Operation Absolute Resolve.

While speaking to reporters Sunday evening, the president touched on his previous meeting with the country’s biggest oil executives at the White House, in which they discussed who would gain access to the world’s largest oil reserves.

“I didn’t like Exxon’s response,” President Trump said. “We have so many that want it, I’d probably be inclined to keep Exxon out. I didn’t like their response. They’re playing too cute.”

As reported by LindellTV, last week’s oil discussion at the White House centered on acquiring a collective $100 billion from these oil companies to rebuild and bolster Venezuela’s oil and gas production infrastructure. Those companies that invest will also get a piece of the soon-to-be lucrative oil market that will open to the world, now that the South American country will enjoy U.S. oversight and, presumably, military security.

President Trump has also said that the oil investments will facilitate “the reduction of Oil Prices for the American People.”

It’s unclear what ExxonMobil did last week to displease President Trump, but it may have been the company’s reported unease at the prospect of immediately investing.

CNBC suggested that Exxon CEO Darren Woods wasn’t keen about jumping in, reporting that at the White House, Woods saw Venezuela as “uninvestable,” citing the country’s previous seizure of ExxonMobil and ConocoPhillips’ assets in 2007.

U.S. Treasury Secretary Scott Bessent seemed to allude to oil titans’ hesitation before the president even met with executives on Friday. Per the outlet, Bessent said on Thursday that big oil companies “move slowly” and “are not interested.”

However, he added, “I can tell you that the independent oil companies and individuals, wildcatters – our phones are ringing off the hook. They want to get to Venezuela yesterday.”

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