ExxonMobil's CEO Called Venezuela 'Uninvestable.' Trump Says It's Going In Anyway. Here's Why Investors Should Pay Attention.
Matt DiLallo, The Motley Fool
Tue, September 8, 2026 at 12:20 PM GMT+3 3 min read
This past January, ExxonMobil's (NYSE: XOM) CEO Darren Woods called Venezuela "uninvestable" during a meeting at the White House, a remark that didn't sit well with President Trump. Fast forward a few months, and the President recently publicly announced that "Exxon is going in" to Venezuela. While ExxonMobil hasn't confirmed plans to reenter the country following its exit two decades ago, much has changed since the year began.
Here's why investors should pay attention to the President's assertion that ExxonMobil is returning to Venezuela.
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Searching for clues in the details of its rival's deal
At a recent press event unveiling a massive U.S. oil deal with Venezuela, President Trump highlighted that Exxon and Chevron (NYSE: CVX) are among the many big oil companies heading into Venezuela. Chevron has already confirmed its expansion in the country, noting that its two decades of patience have finally paid off. The oil giant recently announced that it has expanded its position in the country, as one of its joint ventures has been assigned rights to develop two adjacent oil fields. That supports Chevron's plans to invest more than $7 billion over the next five years to more than double its production in the country to around 600,000 barrels per day.
The oil giant noted in the press release announcing its expanded position that the agreements include "enhanced fiscal, commercial, and legal terms intended to support durable and competitive long-term investments." That's something ExxonMobil investors should pay close attention to, because the company has previously said it needs durable investment protections and improved economics before it would commit to returning to Venezuela. The improved terms of Chevron's deal suggest that Venezuela appears willing to make the concessions that Exxon has been seeking as a condition of its return.
While Trump's statement and Chevron's sweetened deal terms don't necessarily mean Exxon will return, they certainly hint at that to investors who are paying attention. Returning to Venezuela on improved terms would enhance Exxon's already strong plan to 2030, making it an even better oil stock to buy and hold long term.
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Matt DiLallo has positions in Chevron. The Motley Fool has positions in and recommends Chevron. The Motley Fool has a disclosure policy.
ExxonMobil's CEO Called Venezuela 'Uninvestable.' Trump Says It's Going In Anyway. Here's Why Investors Should Pay Attention. was originally published by The Motley Fool
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