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Why ExxonMobil sees Azerbaijan as investable while Venezuela remains high-risk


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Current tensions in the United States illustrate these dynamics in practice. In early 2026, President Donald Trump publicly encouraged major U.S. energy companies to commit substantial capital to revitalizing Venezuela’s oil industry, a push that followed dramatic political events in that country. However, ExxonMobil’s CEO described Venezuela as “uninvestable” under existing conditions, citing concerns over legal protections and commercial frameworks that would be necessary for major capital deployment. This prompted President Trump to suggest that ExxonMobil might be excluded from future investment opportunities there, underscoring the political and strategic complexity of resource‑sector decisions.