President Donald Trump announced that the United States has secured a controlling stake in approximately 65 billion barrels of Venezuela’s proven oil reserves, representing about one-fifth of the country’s total reserves. Trump described the deal as “the largest oil agreement in history,” arguing that it will strengthen U.S. energy security and help lower fuel prices.
The agreement, reportedly negotiated with support from Secretary of State Marco Rubio, includes plans for nearly $100 billion in private investment to revive Venezuela’s struggling oil industry, particularly in the Orinoco Belt and the Lake Maracaibo region. Venezuelan authorities backing the arrangement estimate it could generate more than $200 billion in government revenue and create thousands of jobs.
However, significant questions remain about the deal’s legal and operational framework. Critics have raised concerns about constitutional restrictions, the deteriorated state of Venezuela’s oil infrastructure, and the political legitimacy of transferring control over strategic national resources to foreign interests.
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The announcement comes amid broader efforts to reopen and modernize Venezuela’s energy sector following political changes in 2026. It also highlights Washington’s growing interest in securing new sources of crude oil as global energy markets continue to face geopolitical uncertainty and supply pressu
