Trump announces US will take partial control of Venezuela's oil reserves

President Donald Trump announced an unprecedented U.S. initiative to gain majority control of more than 65 billion barrels of Venezuela's proven oil reserves. This move is a gamble that American companies can revitalize the South American nation's struggling energy sector while simultaneously supplying a new source of crude oil to help reduce U.S. 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 U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer.

Details of the agreement remain scarce, with Trump only stating that the U.S. secured majority control through a partnership with private businesses, at no cost to American taxpayers. The announcement follows weeks of negotiations between the U.S. and Venezuela concerning a deal that would grant American companies long-term access to Venezuelan oilfields and ensure crude supply to the United States.

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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 U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer.

Venezuelan officials have welcomed the agreement, anticipating it will stimulate the economy and increase government revenue. Secretary of State Marco Rubio described the deal as a "win-win," projecting nearly $100 billion in private investment for Venezuela, the creation of thousands of high-paying jobs, and assistance in rebuilding the country's economy. He also stated it would secure stable, low-cost oil for the U.S. and help lower gasoline prices.

“

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 U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer.

Venezuelan interim leader Delcy Rodriguez indicated the agreement would lead to a significant increase in production by developing 17 strategic fields, generating tax revenue for the country. The deal could, however, face legal and constitutional challenges in Venezuela, where the state maintains control over core oil industry activities. The specific structure of the agreement, the fields and companies involved, and how the U.S. will exercise majority control remain undisclosed.

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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 U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer.