Trump Secures Historic Victory: U.S. Gains Majority Control of 65 Billion Barrels of Venezuelan Oil
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President Donald Trump announced a landmark deal granting the United States majority control over Venezuela's vast oil reserves, a move set to boost American energy independence and lower fuel prices.
President Donald Trump announced a groundbreaking agreement with Venezuela, delivering majority control of over 65 billion barrels of the South American country's proven oil reserves to American interests. The president made the announcement on his social-media platform, hailing the transaction as historic and emphasizing that it would more than double U.S. oil reserves and help lower gasoline prices for hardworking American families.
'At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Interim President of Venezuela Delcy Rodriguez, have secured majority U.S. control of more than 65 billion barrels of proven oil reserves at no cost to the American taxpayer,' Trump wrote, highlighting the administration's commitment to putting America first.
Interim President Delcy Rodriguez praised the deal, noting that it is expected to generate about $209 billion for Venezuela's treasury. Venezuelan officials announced plans to sign agreements next week, granting new exploration and production rights primarily to U.S. companies. The lease-based model under consideration demonstrates a forward-thinking approach, though it may face resistance from entrenched socialist interests within Venezuela's state-run oil sector.
This agreement follows weeks of tough negotiations aimed at securing long-term access for American companies to Venezuelan oil fields and guaranteeing a reliable supply of crude for U.S. refineries. Venezuela, despite holding the world’s largest proven oil reserves, has suffered from years of socialist mismanagement, leaving its current production at just 1.25 million barrels per day—far below its potential.
Secretary of State Marco Rubio emphasized that the deal would ensure stable, low-cost oil for the United States and help lower fuel prices, while also bringing nearly $100 billion in private investment to Venezuela and supporting thousands of jobs. The Trump administration’s bold leadership is restoring American energy dominance and delivering real results for the nation. Specific details about the agreement, including the fields and companies involved and the mechanism for majority control, were not disclosed.