#TrumpSaysUSReachedVenezuelaOilDeal Trump Announces “Biggest Oil Deal in World History” with Venezuela
President Donald Trump declared late Friday that the United States has secured a landmark agreement giving it majority control of more than 65 billion barrels of Venezuela’s proven oil reserves through a partnership with private business.
In a Truth Social post, Trump called the pact “THE BIGGEST OIL DEAL IN WORLD HISTORY.” He said it was negotiated at his direction by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth working with Venezuela’s interim President Delcy Rodríguez. The deal, he emphasized, comes “at no cost to the American Taxpayer.”
Trump claimed the transaction would more than double U.S. oil reserves, expand domestic oil supply, and substantially lower gasoline prices for Americans “long into the future.” He also said it would help put Venezuela “on a course toward Tremendous Success and Great Prosperity” and strengthen bilateral ties.
According to U.S. officials familiar with the arrangement, the agreement creates a new private joint venture that receives 100-year rights to develop 17 strategic oil fields. The United States would hold a 55% effective share of the output, combining an ownership stake with the right to purchase oil at cost. That oil is expected to support the U.S. Strategic Petroleum Reserve and military needs.
Venezuelan authorities confirmed the deal covers fields with a proven potential of 65 billion barrels and projected more than $100 billion in private investment plus over $209 billion in tax revenue for the Venezuelan state.
Details of the full legal structure and the identity of the private operator have not yet been released. The announcement follows the U.S. military operation in January that removed former President Nicolás Maduro from power and installed Rodríguez as interim leader.$4 $PROM $BTR
President Donald Trump declared late Friday that the United States has secured a landmark agreement giving it majority control of more than 65 billion barrels of Venezuela’s proven oil reserves through a partnership with private business.
In a Truth Social post, Trump called the pact “THE BIGGEST OIL DEAL IN WORLD HISTORY.” He said it was negotiated at his direction by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth working with Venezuela’s interim President Delcy Rodríguez. The deal, he emphasized, comes “at no cost to the American Taxpayer.”
Trump claimed the transaction would more than double U.S. oil reserves, expand domestic oil supply, and substantially lower gasoline prices for Americans “long into the future.” He also said it would help put Venezuela “on a course toward Tremendous Success and Great Prosperity” and strengthen bilateral ties.
According to U.S. officials familiar with the arrangement, the agreement creates a new private joint venture that receives 100-year rights to develop 17 strategic oil fields. The United States would hold a 55% effective share of the output, combining an ownership stake with the right to purchase oil at cost. That oil is expected to support the U.S. Strategic Petroleum Reserve and military needs.
Venezuelan authorities confirmed the deal covers fields with a proven potential of 65 billion barrels and projected more than $100 billion in private investment plus over $209 billion in tax revenue for the Venezuelan state.
Details of the full legal structure and the identity of the private operator have not yet been released. The announcement follows the U.S. military operation in January that removed former President Nicolás Maduro from power and installed Rodríguez as interim leader.$4 $PROM $BTR