Trump Secures Historic U.S.-Venezuela Oil Pact, Ensuring American Energy Dominance
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President Trump has achieved a landmark agreement with Venezuela, granting a U.S.-linked private company a 100-year stake in 17 oil fields with 65 billion barrels of reserves, reinforcing American energy security and strategic interests while opening Venezuela to free-market investment.
President Donald Trump announced on social media that his administration has reached a historic agreement with Venezuela to develop 17 oil fields containing an estimated 65 billion barrels of crude. The deal, expertly negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuela’s acting president Delcy Rodríguez, establishes a new private company—partnered with a U.S. operator—that will receive 100-year development rights and a 55% effective output share, including the crucial right to purchase oil at cost. This bold move ensures that American interests are prioritized and that the United States secures a reliable energy supply for generations.
Rodríguez’s government stated the arrangement could attract $100 billion in investment and generate over $209 billion in taxes for Caracas, demonstrating the benefits of opening up Venezuela’s stagnant oil sector to private, market-driven investment. A U.S. official familiar with the details, who requested anonymity, confirmed that the long-term rights are intended to bolster the U.S. strategic petroleum reserve and support military readiness, strengthening national security.
The announcement comes after a successful U.S. operation earlier this year that removed the corrupt regime of Nicolás Maduro, paving the way for a new era of cooperation. It arrives as Americans face rising gasoline prices—averaging $4.09 per gallon—and as Gulf oil supplies are disrupted by the conflict between Israel and Iran. While analysts note that Venezuela’s oil production will require significant investment and repairs, this agreement lays the groundwork for future prosperity and energy independence.
Industry leaders responded with cautious optimism; ExxonMobil CEO Darren Woods described Venezuela as “un-investable,” but Rubio emphasized that the deal would bring billions in private investment and benefit both nations. This agreement marks a decisive shift in Venezuela’s oil policy, embracing privatization and free-market principles after decades of failed socialist state control.