Subject: As Albaby says...
Venezuela is uninvestible.

SNIP As other oil executives lavished President Trump with praise at the White House, Exxon Mobil CEO Darren Woods bluntly said the Venezuelan oil industry is currently “uninvestable,” and that major reforms are required before even considering committing the many billions of dollars required to revitalize the country’s dilapidated crude business...

...“There was nobody to say anything, except Darren, and he’s eloquent as heck,” said Jim Wicklund, veteran oil analyst and managing director for PPHB energy investment firm, noting that Exxon stock most likely would have fallen if Woods had overcommitted to Venezuela.

“This is Trump’s problem. There’s no urgency by the industry at all to go back into Venezuela. And there’s almost no inducement other than guaranteeing profitability, which they can’t do,” Wicklund said. “You can sweeten the terms, but the political risk outweighs that variable by a factor of 10.

“We don’t need Venezuelan oil. It’s going to hurt everybody else (including U.S. producers) if we boost Venezuelan production because, right now, we’re awash in oil.” SNIP

https://fortune.com/2026/01/12...