US President Trump reportedly angered by America's largest oil company, may block its entry into Venezuela

US President Donald Trump has become displeased with his country's largest oil company. In such a situation, he may now block this company's entry into Venezuela.

United States of America President Donald Trump wants to fully utilise Venezuela's oil reserves under his 'Mission Venezuela'. Trump intends to sell this oil to other countries and use the proceeds as he wishes. In this regard, Trump had met with officials from American oil companies a few days ago and, assuring them of full security, appealed for an investment of at least 100 billion dollars (90 lakh crore rupees) in Venezuela. However, America's largest oil company might opt out of Trump's mission.

Will ExxonMobil be denied entry into Venezuela?

Trump recently indicated that he might prevent America's largest oil company, ExxonMobil, from drilling and investing in Venezuela. Through this statement, Trump expressed his displeasure towards ExxonMobil.

What is the reason for Trump's displeasure?

Actually, a few days ago during a meeting with Trump, ExxonMobil CEO Darren Woods said something that Trump did not like. Woods stated that Venezuela is not worthy of investment. For this reason, Woods does not want his company to be involved in Venezuela's oil business, as he believes it would not be right for his company. According to him, some changes in laws are necessary first, after which investment would be appropriate. Trump became displeased with this statement by Woods.

Trump's policy could impact the global oil market

Under the 'America First' policy, Trump wants to further strengthen America in the oil sector. By fully controlling Venezuela's oil reserves, Trump not only aims to meet American needs but also wants to sell this oil to other countries according to his own terms. This policy of Trump could impact the global oil market.