US-Venezuela
Trump unveils ‘world’s biggest oil deal’ with Venezuela, claims control of 65 billion barrels
President Donald Trump has announced that the US has reached a deal with Venezuela to control more than 65 billion barrels of its proven oil reserves, calling it the 'world's biggest oil deal'.
The move was reached just days after the US captured its then-President Nicolás Maduro this year.
Writing on Truth Social about the deal, Trump said: "The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY! 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."
"This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity," he said.
Trump said the deal will greatly strengthen the already growing relationship between Venezuela and the United States.
US Secretary of State Marco Rubio described the deal as a 'huge win' for the people of both countries.
"It demonstrates how President Trump's bold foreign policy is driving America First wins: securing stable reserves and low-cost oil in our Hemisphere and lowering gas prices here at home," Rubio wrote on X.
This deal is a huge win for both the American and Venezuelan people.
— Secretary Marco Rubio (@SecRubio) August 28, 2026
It demonstrates how President Trump's bold foreign policy is driving America First wins: securing stable reserves and low-cost oil in our Hemisphere and lowering gas prices here at home.
For the Venezuelan… https://t.co/SMSRYGWmVb
"For the Venezuelan people, this deal will bring nearly $100 billion in private investment, support thousands of high-paying jobs, and drive the reconstruction of Venezuela's economy," he said.
Venezuela's interim President, Delcy Rodriguez, welcomed the move and said in a statement that the agreement would have "a significant impact on our nation's revival", BBC reported.
The deal calls for the development of 17 strategic oil fields with a proven potential of 65 billion barrels, as well as "an investment of more than $100 billion, and more than $209 billion in taxes for the State", Rodriguez said.
On January 3, President Maduro and his wife, Cilia Flores, were seized in a US special forces operation which was authorised by Trump.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
