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US, Venezuela Agree on 'Biggest Oil Deal’ - Trump
US, Venezuela Agree on 'Biggest Oil Deal’ - Trump
Sputnik India
President Trump stated that the US had reached an agreement with Venezuela, claiming that the US had secured a majority stake in more than 65 billion barrels of proven oil reserves.
2026-08-29T09:13+0530
2026-08-29T09:13+0530
2026-08-29T10:10+0530
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"This Historic Transaction more than doubles American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans," Trump wrote on Truth Social.Venezuelan interim president Delcy Rodríguez provided a detailed breakdown of the oil agreement with the US, thanking President Trump and Secretary Rubio for their willingness to develop what she called "a milestone" in bilateral relations.The goal is to "significantly increase" oil production through private sector participation, Delcy added.Earlier, Donald Trump said that the US has been profiting from Venezuela's oil since the kidnapping of Venezuelan President Nicolás Maduro in early January.
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US, Venezuela Agree on 'Biggest Oil Deal’ - Trump
09:13 29.08.2026 (Updated: 10:10 29.08.2026) President Trump stated that the US had reached an agreement with Venezuela, claiming that the US had secured a majority stake in more than 65 billion barrels of proven oil reserves.
"This Historic Transaction more than doubles American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans," Trump wrote on Truth Social.
Venezuelan interim president Delcy Rodríguez provided a detailed breakdown of the oil agreement with the US, thanking President Trump and Secretary Rubio for their willingness to develop what she called "a milestone" in bilateral relations.
17 strategic fields to be developed with private operators — proven potential of 65 billion barrels
$100+ billion in projected investment
$209 billion in expected tax revenue for the Venezuelan government
The goal is to "significantly increase" oil production through private sector participation, Delcy added.
Earlier, Donald Trump said that the US has been profiting from Venezuela's oil since the kidnapping of Venezuelan President Nicolás Maduro in early January.
