Exxon Mobil (XOM.US) CEO Darren Woods has once again criticized European Union energy policies while expressing praise for President Trump's energy approach. The Texas-based oil and gas giant is slowing its investments in Europe and divesting assets.

Woods stated that EU regulatory measures in climate and human rights areas "slow down business processes and attempt to forcibly implement impractical solutions." These comments follow his fierce criticism last month of the EU's Corporate Sustainability Due Diligence Directive, which he described as having a "devastating" impact.

In stark contrast, Woods highlighted during his speech at the Energy Intelligence Forum in London on Monday that Trump has promoted "a more balanced policy discussion" and "clearly recognizes the critical role energy plays in economic growth and people's daily welfare."

Despite such political support, Woods candidly told the audience that Exxon Mobil is concerned about the impending slowdown in U.S. shale oil production growth. He indicated that this trend could potentially be reversed if companies can break through the current recovery rate limitation of approximately 10% in shale reservoirs.

Regarding Exxon Mobil's return to Iraq - the company signed an agreement related to the Majnoon oil field last week - Woods revealed that "we still have a long way to go before the project can be implemented effectively."