ExxonMobil CEO Warns Trump: Venezuela 'Uninvestable' Without Major Reforms

• ExxonMobil CEO Darren Woods told Donald Trump that Venezuela is "uninvestable" due to a lack of legal and political conditions.
• Despite having the world's largest proven oil reserves, Exxon cannot commit billions without comprehensive changes to legal systems and investment protections.
• Woods emphasized the need for durable investment protection and changes to hydrocarbon laws to ensure contract and asset security.
• Venezuela's oil industry is in long-term decline due to mismanagement, underinvestment, corruption, and US sanctions.
• Exxon's past experience with nationalization under Hugo Chávez shapes its view on political risk, highlighting the need for credible reforms before major companies return.

Why It Matters: ExxonMobil warns Trump that Venezuela's oil sector needs deep legal and political reforms to attract investment.