President Trump Announces Major Oil Deal with Venezuela for 65 Billion Barrels of Reserves
President Trump announced on Friday that his administration has finalized a significant agreement with Venezuela, which could grant the U.S. access to a substantial portion of Venezuela's oil reserves at cost. The deal, negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuela's acting President Delcy Rodríguez, involves the development of 17 oil fields with an estimated 65 billion barrels of proven potential. According to Rodríguez's government, this agreement could attract $100 billion in investment into Venezuela's oil industry and generate over $209 billion in taxes for Caracas. A U.S. official, speaking anonymously, stated that the agreement allows the United States to partner with an unnamed private operator in Venezuela to establish a new private company. This new entity would gain 100-year rights to develop the oil fields, with the U.S. securing a 55% effective output, including an ownership stake and the right to purchase oil at cost. This would make the new compa... 
