Exxon Mobil (XOM) has signaled continued interest in sending an assessment team to Venezuela for evaluating oil infrastructure and other assets, according to Reuters, citing an unnamed source.
The report comes days after U.S. President Donald Trump reached out to executives from more than 20 U.S. energy companies in a live-streamed meeting Friday, with Exxon CEO Darren Woods saying that Venezuela is “uninvestable” without significant changes to the country’s commercial frameworks, legal system, and hydrocarbon laws.
Trump later said that he was “inclined” toward blocking the company from drilling in Venezuela, despite Woods noting that he was “confident … that those changes can be put in place” with the current administration working with the Venezuelan government.
Exxon (XOM) executives were surprised by these events, the source told Reuters.
Woods said Friday that Exxon (XOM) could have a technical team visit to assess the current state of Venezuelan assets in the coming weeks, and could assist in getting Venezuelan crude to market through its integrated businesses, which include refining and trading.
The meeting, which took place after the U.S. removed Venezuelan President Nicolas Madura, also had executives from ConocoPhillips (COP), Chevron (CVX), and other U.S. energy companies. Exxon, Chevron and Conoco had operations in the country, but had their assets seized as Venezuela nationalized the industry. Only Chevron remained in a deal with the country.