US secures majority control of 65 billion barrels of Venezuelan oil in 100 billion dollar agreement

Agreement terms and reserve allocations

The United States and Venezuela announced a bilateral energy agreement on Friday granting the US majority control over the exploitation of 17 strategic oil fields. These designated fields hold potential crude reserves of up to 65 billion barrels. According to officials, the partnership will establish the second largest private oil company globally based on reserves and will secure oil access for Washington for decades. President Donald Trump published the announcement on Truth Social, asserting that the transaction was organized in close cooperation with Venezuelan officials and private energy companies. Trump also stated that the initiative carries zero financial cost for US taxpayers.

This historic deal more than doubles American oil reserves, significantly increases our oil supply and will substantially reduce fuel prices for all Americans.

Financial projections and economic targets

Venezuela holds the largest proven petroleum deposits on earth, with total national reserves exceeding 303 billion barrels. However, actual extraction across the country has stayed severely depressed because extraction facilities and processing networks require massive capital rehabilitation. Venezuelan acting president Delcy Rodriguez confirmed the bilateral pact in a public message on Telegram, expressing gratitude to the US administration. Rodriguez stated that developing the 17 strategic fields will direct over 100 billion dollars of direct industrial investment into Venezuela while generating over 209 billion dollars in state tax revenues.

These investments will contribute not only to the recovery and modernization of our industry, but also to the economic growth of our country, the energy security of our hemisphere and greater balance in international markets.

Private capital and domestic rebuilding

United States Secretary of State Marco Rubio outlined the commercial parameters of the energy package in a statement on X. Rubio affirmed that the framework is structured around nearly 100 billion dollars in private corporate investments rather than public funding. According to Rubio, the project will generate thousands of well-paid employment opportunities across Venezuela and support broad economic reconstruction. He termed the agreement an advantageous development for both the American public and the Venezuelan population as private operators deploy technical teams to modernize the 17 designated production zones.

For the people of Venezuela, this deal will attract nearly 100 billion dollars in private investment, support thousands of well-paid jobs and favor the rebuilding of the economy.

Energy market strains and political background

The agreement develops after an early June US military operation that resulted in the capture of former Venezuelan president Nicolas Maduro, leading to the installation of Delcy Rodriguez as acting president. Under the new bilateral arrangement, the Trump administration seeks to accelerate crude and natural gas development across the region. The deal also addresses domestic fuel pressures in the United States, where the Strategic Petroleum Reserve reached its lowest recorded inventory since November 1982, according to the Energy Information Administration. To mitigate price inflation and supply bottlenecks stemming from the ongoing conflict in the Middle East, the US had previously scheduled the progressive release of 172 million barrels from the 415 million barrels recorded in reserve at the end of February.