Tag Archives: heavy oil

My Newsweek| I counter Exxon CEO Darren Wood’s WH drama that “Venezuela is uninvestable.” And more commentary.

Oil Bosses Hit Trump With Venezuela Setback: ‘Uninvestable’

Image from 2002 shows an oil refinery in Maracaibo, Vzla. Photo ANDREW ALVAREZ

Published Jan 10, 2026 – By, Brendan Cole, Senior News Reporter

Developing Venezuela’s oil industry  following the removal of its leader, Nicolas Maduro,  would require major legal and commercial changes, Exxon CEO Darren Woods has told President Donald Trump

Woods gave a downbeat assessment of the viability of restoring oil production in the South American country believed to hold the world’s largest reserves, telling Trump that at the moment, the country’s industry was “uninvestable.”

Energy industry analyst, Thomas O’Donnell, told Newsweek on Saturday that one approach would be for companies to work on small projects to kickstart production before targeting the oil fields that require heavy investment.   

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Oil Bosses Hit Trump With Venezuela Setback: ‘Uninvestable’

Image from 2002 shows an oil refinery in Maracaibo, Vzla. Photo ANDREW ALVAREZ

Published Jan 10, 2026 – By, Brendan Cole, Senior News Reporter

Developing Venezuela’s oil industry  following the removal of its leader, Nicolas Maduro,  would require major legal and commercial changes, Exxon CEO Darren Woods has told President Donald Trump

Woods gave a downbeat assessment of the viability of restoring oil production in the South American country believed to hold the world’s largest reserves, telling Trump that at the moment, the country’s industry was “uninvestable.”

Energy industry analyst, Thomas O’Donnell, told Newsweek on Saturday that one approach would be for companies to work on small projects to kickstart production before targeting the oil fields that require heavy investment.   

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My CNN live: Why Trump wants a Venezuelan oil boom | Venezuelans, living in misery, just want Maduro gone; eight million have fled.

I was interviewed on CNN International’s “Newsroom” with host Kim Brunhuber – live, Friday, 12 Dec. 2025. The transcript is below. Kim asked about Venezuela’s oil industry, the impact of sanctions, what stricter enforcement could do to the Venezuelan economy, and what the US stands to gain if it ultimately gains greater access to the country’s oil reserves? He also wanted to know what Venezuelans are saying. / CNN says: “The show is broadcast around the world on CNN International, and in the US on our new platform All Access.”

Transcript:

0:01 I want to bring in Thomas O’Donnell, an

0:03 energy and geopolitics strategist at

0:05 GlobalBarrel.com. He’s also a former

0:07 visiting professor at the Central

0:09 University of Venezuela and he joins us

0:11 from Berlin. Thank you so much for being

0:13 here with us. Uh so this seizure, a

0:16 clear escalation here. Uh the White

0:19 House says more tanker seizures could be

0:22 coming. If that happens, I mean, what

0:23 would that do to the Venezuelan economy?

0:28 Well, there’s there’s two aspects here.

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