Exxon CEO Blunt Candor on Venezuela Shows Risk of Crossing Trump

When Exxon Mobil Corp. Chief Executive Darren Woods told President Donald Trump Friday that Venezuela is currently “uninvestable,” he was echoing warnings already issued by oil industry leaders and analysts.

Indeed, some of his peers had tried to dissuade the White House from even holding the meeting, according to people familiar with the matter.

While Trump wants US companies to invest at least $100 billion rebuilding Venezuela’s beleaguered oil sector following the capture of President Nicolás Maduro, some executives worry conditions won’t permit a speedy turnaround. They also don’t want their companies cast as opportunistically dividing up Venezuela’s ...