Trump Claims U.S. Control Over Venezuelan Oil Reserves

President Donald Trump announced that the United States will have “majority U.S. control” over a significant portion of Venezuela’s oil reserves. This statement followed a post on Truth Social describing an agreement with Venezuela as the “biggest oil deal in world history.”

BREAKING NEWS: The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!

According to Trump, U.S. Secretary of State Marco Rubio and Secretary of War Pete Hegseth worked alongside Venezuela’s interim President Delcy Rodriguez to secure control over more than 65 billion barrels of proven oil reserves in Venezuela. Trump emphasized that this agreement came at no cost to American taxpayers.

The figure of 65 billion barrels represents approximately 21 percent of Venezuela’s total proven reserves, which amount to 303 billion barrels. A U.S. official mentioned that Rodriguez allowed a private company, a joint venture between the U.S. government and a private operator in Venezuela, 100-year concessions for oil fields containing 63 billion barrels of proven reserves. The identity of the private operator was not disclosed.

The official also noted that the U.S. government will hold more than half of the new oil company’s value, divided between equity ownership and guaranteed oil offtake. The U.S. is set to receive a 55 percent “effective output” of the joint venture. This new company will possess the second-largest proven oil reserve globally, second only to Saudi Aramco.

The announcement has stirred discussions regarding the practicalities and implications of extracting petroleum from these reserves, highlighting potential challenges ahead.

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