'Biggest Deal in History': US Takes Control of 65 Billion Barrels of Venezuelan Oil
# United States# venezuelaPresident Donald Trump has announced a historic agreement between the United States and Venezuela, giving the U.S. control over approximately 65 billion barrels of Venezuela’s proven oil reserves while seeking to revive the OPEC nation’s heavily deteriorated energy sector.
In a post published on Truth Social, Trump hailed the agreement as "the biggest oil deal in world history". He stated that the transaction would more than double U.S. oil reserves and significantly lower gas prices for Americans long into the future.
According to President Trump, the deal was finalized through extensive discussions led by U.S. Secretary of State Marco Rubio and Secretary of War Pete Hegseth, working alongside Venezuela’s interim President Delcy Rodriguez in collaboration with private business partners.
At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, and, through a partnership with private business, have secured majority US control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer - Trump Wrote
Negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuela’s interim President Delcy Rodriguez, the agreement grants a 55% effective stake to a joint venture involving American private firms across 17 major oil fields under 100-year concessions.
The deal comes as the US seeks to replenish its Strategic Petroleum Reserve and ease domestic gasoline prices, double its controlled oil reserves, and secure cheap crude for American refineries without taxpayer expense.
enezuela, interim President Delcy Rodriguez welcomed the partnership, projecting it will inject roughly $100 billion in private investments to modernize the nation's energy sector while generating over $209 billion in tax revenues for the state treasury.
