U.S.–Venezuela oil agreement stories

Aug 27, 2026

Trump announces US deal to take control of 65 billion barrels of Venezuelan oil reserves

President Trump announced the US has entered an agreement with Venezuela to take majority control of over 65 billion barrels of the country's oil reserves, calling it the 'biggest oil deal in world history.'

Aug 27, 202617 sources

Top claims

▪The joint venture is a partnership between the United States government and an experienced private operator, granting a 100-year concession to operate in fields containing 65 billion barrels of oil
▪U.S. military forces captured Venezuelan President Nicolas Maduro in January 2026 and brought him to the United States to face federal drug trafficking and narcoterrorism charges
▪Interim President Delcy Rodriguez signed legislation that opens Venezuela's oil sector to privatization, reversing decades of state-controlled socialist energy policy

People involved

Donald Trump

Subtopics

Energy security & geopolitics1 Global supply chains1 Oil politics & energy geopolitics1 Trump administration1 US foreign policy1

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