Trump: 'I Didn't Like Exxon's Response'

President Trump is warning that one of America's biggest oil companies may be unwelcome in one of the world's biggest oil patches. Speaking to reporters aboard Air Force One on Sunday, the president said he is inclined to block Exxon Mobil from future projects in Venezuela after the company balked at his push for a rapid return, reports the Hill. "I didn't like Exxon's response. You know we have so many that want it. I'd probably be inclined to keep Exxon out," Trump said, accusing the company of "playing too cute."

The remarks came days after Exxon CEO Darren Woods told Trump at a White House meeting that Venezuela is "uninvestable" in its current form. Woods said Exxon would require sweeping changes to commercial terms, the legal system, and oil laws, plus strong and lasting protections for investors, before entering the country again. Venezuela expropriated Exxon's and ConocoPhillips' assets in 2007 and still owes them billions from arbitration awards, per CNBC. The company did not immediately comment on Trump's comments, and its shares were down about 1.1% in premarket trading Monday.

Trump wants US oil producers to commit roughly $100 billion to Venezuela's energy industry and has promised unspecified "guarantees" and security support from Washington. "We are going to have guarantees," Trump said. "They had problems in the past because they didn't have Trump as a president." Chevron is currently the only major US oil company still operating there. After being seized earlier this month, former Venezuelan leader Nicolas Maduro remains in a jail in New York City.