Trump announces major US oil deal with Venezuela
US President Donald Trump announced an oil deal with Venezuela's interim government, claiming majority control over 65 billion barrels of reserves.
US President Donald Trump announced a major oil agreement with Venezuela's interim administration under President Delcy Rodríguez on Friday. Trump claimed the deal grants the United States majority control over 65 billion barrels of proven reserves, describing it as "the largest oil deal in the history of the world" and asserting it will more than double US domestic reserves.
Brokered alongside Secretary of State Marco Rubio and Defense Secretary Pete Hegseth in partnership with private business, the deal follows the ouster of former President Nicolás Maduro. While specific terms have not been fully disclosed, reporting indicates private US firms will participate. However, media reports note previous corporate hesitation due to Venezuela's damaged energy infrastructure and past expropriations of foreign capital.
Sources: El Día, The Guardian, ORF, Tagesschau, Sweden Herald
How outlets assessed this
- Aug 29, 2026, 04:30 AM UTC
- Tagesschau Cautious Framed the announcement by highlighting previous corporate hesitation regarding Venezuela's poor infrastructure and historical expropriations of foreign investments.
- Sweden Herald Skeptical Emphasized Donald Trump's frequent use of superlatives while noting that specific details of the crude agreement remain scarce.
- Sweden Herald Skeptical Highlighted Trump's use of superlatives while emphasizing that operational details of the Venezuelan oil deal remain scarce.
- Trend News Agency Neutral Focused on the strategic geopolitical advantages for Washington, noting the deal reshapes OPEC dynamics and global energy influence.
- Sweden Herald Skeptical Emphasized that concrete details of the agreement remain scarce despite grand claims from U.S. leadership.
- Trend News Agency Neutral Focused on how the pact grants Washington strategic influence over global oil prices and reshapes OPEC dynamics.
Sources
- The Guardian — Trump announces new US oil agreement with Venezuela
- El Día — Trump anuncia un "histórico" acuerdo petrolero con Venezuela con concesiones al sector privado de EEUU de hasta un siglo
- Sweden Herald — Trump says US has signed major oil deal with Venezuela
- ORF — Trump: USA sichern sich Ölreserven Venezuelas
- Tagesschau — USA: Trump verkündet Öl-Abkommen mit Venezuela
Earlier coverage
- Sep 4, 2026, 11:00 AM UTCUS and Venezuela sign 25-year oil deal as Rodríguez defends national sovereignty
- Sep 2, 2026, 03:00 PM UTCVenezuela caps energy deal with United States at 25 years
- Sep 2, 2026, 05:00 AM UTCVenezuela's Rodríguez defends 25-year US oil deal amid sovereignty claims
- Sep 1, 2026, 10:30 PM UTCVenezuelan leadership sets 25-year limit on US energy pact
- Sep 1, 2026, 04:00 AM UTCUS details terms of major Venezuela oil agreement
- Sep 1, 2026, 03:00 AM UTCUS outlines control mechanisms in historic Venezuela oil deal
- Aug 30, 2026, 08:00 PM UTCUS secures majority control over 65 billion barrels of Venezuelan crude
- Aug 30, 2026, 04:30 PM UTCUS secures majority control over Venezuelan oil reserves in historic deal
- Aug 30, 2026, 04:30 AM UTCUS oil deal with Venezuela seeks to alter global energy dynamics
- Aug 30, 2026, 03:30 AM UTCUS secures majority control over Venezuela oil reserves in landmark deal