During a high-stakes White House meeting on Friday, January 9, 2026, ExxonMobil CEO Darren Woods explicitly told then-President Donald Trump that Venezuela is 'uninvestable' in its current state. This direct assessment came as Trump aggressively pushed major US oil companies to commit at least $100 billion towards revitalizing Venezuela's dilapidated oil infrastructure. The meeting occurred swiftly after the reported capture of Venezuelan leader Nicolás Maduro by US forces on January 3, 2026, an event Trump leveraged to present an 'unprecedented opportunity' for American energy firms. While expressing appreciation for the opportunity, oil executives, including those from Chevron and ConocoPhillips, echoed ExxonMobil's caution. They highlighted the significant risks, particularly Venezuela's history of state asset seizures—ExxonMobil itself had assets confiscated twice—and the ongoing political instability. Woods emphasized the necessity of 'significant changes' to Venezuela's commercial frameworks, legal system, and durable investment protections before any substantial commitment could be made, offering only to send a technical team for initial assessment. Trump, however, assured the executives of 'total safety' and 'government protection,' asserting that the US would directly oversee their operations, bypassing the Venezuelan government. Despite Trump's strong urging and a warning that other companies were ready to step in, many firms remained reticent to make immediate, firm investment pledges, underscoring the deep-seated concerns within the industry regarding the country's long-term stability and economic viability.