Trump announces US partnership to control fifth of Venezuela's oil reserves

President Donald Trump announced a significant move to gain majority control over more than 65 billion barrels of Venezuela's proven oil reserves. The deal, struck through a partnership with private businesses, aims to revitalize Venezuela's struggling energy sector and secure a new crude supply for the United States, potentially lowering domestic fuel prices.

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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 detailed the agreement on Truth Social, stating that "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."

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it would secure stable, low-cost oil for the United States and help lower gasoline prices.

This unprecedented arrangement expands the US role in Venezuela's oil industry. While Venezuela possesses the world's largest proven oil reserves, its production has significantly declined due to years of underinvestment and mismanagement. The new deal seeks to reverse this trend by bringing in American expertise and capital.

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For Venezuela, Rubio said the deal would bring nearly $100 billion in private investment, support thousands of high-paying jobs and help rebuild the country's economy.

Senator Marco Rubio described the agreement as a "win-win," highlighting its potential to ensure a stable, low-cost oil supply for the US and reduce gasoline prices. For Venezuela, Rubio projected nearly $100 billion in private investment, the creation of thousands of high-paying jobs, and a boost to the country's economic recovery. Interim leader Delcy Rodriguez welcomed the deal, anticipating a substantial increase in production through the development of 17 strategic oilfields.

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the agreement would allow for a significant increase in production through the development of 17 strategic f