Trump announces 'biggest oil deal in world history' with Venezuela

President Donald Trump announced Friday that his administration has reached a significant agreement with Venezuela, potentially granting the U.S. access to vast untapped oil reserves at cost. Trump described the deal on social media as "THE BIGGEST OIL DEAL IN WORLD HISTORY!"

According to a statement from acting Venezuelan President Delcy Rodríguez's government, the agreement focuses on the development of 17 oil fields with a proven potential of 65 billion barrels. The deal is projected to attract US$100 billion in investment into Venezuela's oil industry and generate over $209 billion in taxes for Caracas. Rodríguez expressed optimism, predicting the deal "will have a significant impact on our nation’s revival."

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

The agreement allows the United States to partner with an unnamed private operator to form a new company that will manage the reserves. A U.S. official familiar with the deal indicated that Rodríguez granted this company 100-year rights to develop the fields. This new entity would position itself as the second-largest corporate holder of proven reserves globally, following Saudi Aramco.

The U.S. would secure a 55 percent effective output from this new private company, comprising both an ownership stake and the right to purchase oil at cost. This announcement comes amid pressure on Trump to lower oil prices, particularly as the U.S. faces high gas prices influenced by global conflicts and reduced oil flow through the Strait of Hormuz.

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will have a significant impact on our nation’s revival.