Trump announced U.S. control of Venezuela’s oil without releasing the deal
Trump announced 65 billion barrels of oil. No contract has surfaced. Minor paperwork issue when declaring an empire.
The big announcement
Trump said Friday that an unnamed public-private venture gained majority U.S. control over 65 billion barrels of Venezuelan oil. Delcy Rodríguez described a 25-year deal covering 17 fields, targeting 1.5 million barrels daily and $209 billion in Venezuelan revenue. Trump said the crude would refill the U.S. Strategic Petroleum Reserve.
Washington wants the wells
Washington would gain an extraordinary stake in Venezuelan resources after helping remove Nicolás Maduro. The arrangement could shift regional power and reward handpicked companies, but it would take years to affect pump prices.
Show us the contract
No contract, operator, financing plan, field list, legal basis, or timetable is public. The reserve, production, revenue, and taxpayer-cost figures remain official claims.
Sources3 sources
- ReutersUS enters into oil agreement with Venezuela, Trump says2026-08-28 (opens in a new tab)
- ReutersVenezuela's interim president says US energy deal will last 25 years2026-08-30 (opens in a new tab)
- Associated PressHere are the unanswered questions about Trump's oil deal with Venezuela2026-08-30 (opens in a new tab)