Venezuela deemed uninvestable by Exxon CEO unless significant reforms occur

US President Donald Trump has urged US oil giants to repair Venezuela’s “rotting” energy industry. The request was made during a meeting with oil executives, where Trump emphasized the need for significant changes in the country.

According to reports, some oil executives have expressed skepticism about investing in Venezuela due to concerns over the country’s economic and political instability. Exxon CEO Darren Woods has stated that Venezuela is “uninvestable” without significant changes.

The White House has confirmed that US decisions regarding Venezuela will be dictated by the administration. Updates on the situation are expected as more information becomes available.

In related news, Trump has reportedly invited oil executives to a meeting with him, where he discussed ways to improve Venezuela’s energy sector. The meeting took place after Trump’s operation in Venezuela, which aimed to secure the release of American hostages.

The attendance at the meeting is believed to include representatives from major US oil companies. However, details about who attended the meeting are not yet publicly available.

The situation in Venezuela remains a topic of interest for investors and policymakers alike. The country’s energy sector has been severely impacted by economic sanctions and political instability, making it challenging for foreign companies to operate there.

Source: Google News World