Winners and losers emerge in Venezuela [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
The White House meeting last Friday between US President Donald Trump, top cabinet officials, and executives from most of the world's top oil companies didn't produce the kind of quick-win, headline-grabbing investment promises Trump is accustomed to extracting from tech moguls and other executives. ExxonMobil CEO Darren Woods called Venezuela “uninvestable” for the time being, a comment which Trump later said left him “ inclined to keep Exxon out .” Trump also told ConocoPhillips CEO Ryan Lance to essentially give up on trying to recover the $12 billion the company claims to be owed by Venezuela for the 2007 seizure of its assets. That message can't have been very encouraging to the big European companies in the room — Eni and Repsol — which are also owed billions of dollars by Venezuela, and which produce much of the gas that is used by the Venezuelan electric grid; the country's future economic stability depends on their ongoing investment. “The White House understands it needs t
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News
- Oil Prices Jump 2% Following Drone Strike at Major Black Sea Terminal [Yahoo! Finance]Yahoo! Finance
- The oil CEO who stood up to Trump is a follower of the disciplined ‘Exxon way' and has a history of blunt statements [Yahoo! Finance]Yahoo! Finance
- Davos begins new era grappling with global order shaken by Trump [BNN Bloomberg (Canada)]BNN Bloomberg
- Exxon's Truth-Telling on Venezuela Shows Risk of Crossing Trump [Yahoo! Finance]Yahoo! Finance
- Trump could win his battle with Jerome Powell. He still might lose his war with rates. [Business Insider]Business Insider
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