Trump announces deal with Venezuela to secure more than 65 billion barrels of oil reserves
Trump said the agreement could bring more than $100 billion in private investment and support thousands of jobs in Venezuela.
- On Friday, President Donald Trump announced an agreement with Venezuela's interim President Delcy Rodriguez securing majority U.S. control of more than 65 billion barrels of oil through a partnership with private business, directed by Secretary of State Marco Rubio and Secretary of War Pete Hegseth.
- U.S. strategic oil reserves fell below 300 million barrels in early August, prompting the administration to seek new crude sources after six months of Iran-related supply disruptions disrupted global markets and pressured gasoline prices ahead of midterm elections.
- The agreement targets 17 strategic oil fields expected to attract nearly $100 billion in private investment, aiming to revive Venezuela's deteriorated energy sector and secure additional crude for U.S. refineries while generating over $209 billion in tax revenue for Caracas.
- Secretary of State Marco Rubio called the deal 'a huge win for both the American and Venezuelan people,' while the administration claims the transaction will more than double U.S. oil reserves and substantially lower gas prices for Americans.
- Industry experts remain skeptical about immediate production gains due to Venezuela's dilapidated infrastructure and political uncertainty; Francisco Monaldi, director of the Latin American Energy Program at Rice University, warned that meaningful expansion will require years of significant capital investment.
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1001 Articles
Trump Venezuela Oil Deal: 65B Barrels, Lower Gas Prices
President Trump announced what he called the biggest oil deal in history, securing U.S. majority control over 65 billion barrels of Venezuelan oil reserves, a move one veteran energy trader says will drive down gas prices for a generation. Trump made the announcement on Truth Social on Friday, saying the United States had entered an […] The post Trump's Venezuela oil deal gives U.S. majority control of 65 billion barrels — and a top energy trade…
MyCentralOregon.com
Trump announces 'historic' US-Venezuela oil deal that he says will lower gas prices
The capital of the oil state and surrounding areas offer a stark contrast between Venezuela’s oil wealth and the daily reality of communities living near the country’s energy infrastructure. (Photo by Jose Isaac Bula/Anadolu via Getty Images)
Trump Announces ‘Biggest Oil Deal in World History,’ Predicts Major Drop in Gas Prices - Real News Now
President Donald Trump announced a massive new oil agreement with Venezuela on Friday, calling it the “biggest oil deal in The post Trump Announces ‘Biggest Oil Deal in World History,’ Predicts Major Drop in Gas Prices appeared first on Real News Now.
Trump's big oil deal lambasted across the board: 'Corruption at epic scale'
Call it socialism, imperialism, corruption or theft — senators, conservatives, journalists, former ambassadors and economists all agree President Donald Trump's "deal" to control 65 billion barrels of Venezuelan oil is a very bad move. Trump's Truth Social announcement on Friday of a deal with Delcy Rodríguez — who became Venezuela's acting president in January after the U.S. military captured former President Nicolás Maduro — spurred an uproar …
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