Trump Secures Majority Control of Venezuela's Oil Reserves

In an unprecedented move, President Donald Trump announced Friday that the United States has secured majority control over a significant portion of Venezuela's vast oil reserves. The deal involves more than 65 billion barrels of proven oil, acquired through a partnership with private businesses.

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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.

This initiative is strategically designed to revive Venezuela's struggling energy industry, which has been hampered by years of underinvestment and mismanagement. Simultaneously, it aims to secure a new source of crude oil for American refineries, with the potential to reduce U.S. fuel prices.

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

Venezuelan officials have expressed optimism about the agreement, projecting that it will stimulate the nation's economy and significantly increase government revenue. The deal is expected to lead to a substantial rise in oil production and generate billions in tax income.

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

Secretary of State Marco Rubio and Secretary of War Pete Hegseth were instrumental in negotiating the terms, which Trump stated were achieved at no cost to American taxpayers. The agreement follows weeks of negotiations and could involve U.S. companies gaining long-term access to Venezuelan oilfields. However, the arrangement might face legal and constitutional hurdles within Venezuela, where the state maintains control over key oil industry activities.

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These agreements will allow for a significant increase in production through the development of 17 strategic fields and result in tax revenue for the country totaling $209 billion.