Trump Ally Harold Hamm Strikes Venezuela Oil Deal
President Donald Trump and Marco Rubio prepared to welcome an initial shipment of one million barrels of Venezuelan oil into Texas following a new arrangement involving the US-NABEP deal. The shipment is slated for sale to Exxon and Citgo as the administration works to lower fuel costs ahead of the midterms. Trump described the arrangement as a record-setting agreement involving 17 Venezuelan oilfields and approximately 64 billion barrels of reserves given to a single company. Meanwhile, ExxonMobil urged caution regarding further financial investments in the country until additional changes occur, contrasting with Chevron's faster progress.
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- ✓ President Donald Trump and Marco Rubio were expected to greet the first shipment of one million barrels of Venezuelan oil arriving in Texas.
- ✓ The initial shipment of Venezuelan oil is scheduled to be sold to Exxon and Citgo.
- ✓ ExxonMobil emphasizes the need for extensive additional changes in Venezuela before making financial investments.
- ✓ Chevron is moving forward at a faster pace in Venezuela.
What changed
Initial shipments of Venezuelan oil arrived in Texas for distribution to Exxon and Citgo following the US-NABEP deal.
Live updates
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Trump Ally Harold Hamm Strikes Venezuela Oil Deal
President Donald Trump and Marco Rubio prepared to welcome an initial shipment of one million barrels of Venezuelan oil into Texas following a new arrangement involving the US-NABEP deal. The shipment is slated for sale to Exxon and Citgo as the administration works to lower fuel costs ahead of the midterms. Trump described the arrangement as a record-setting agreement involving 17 Venezuelan oilfields and approximately 64 billion barrels of reserves given to a single company. Meanwhile, ExxonMobil urged caution regarding further financial investments in the country until additional changes occur, contrasting with Chevron's faster progress.
Why it matters
The arrival of Venezuelan oil follows the capture of Maduro and forms a central pillar of the administration's push to ease voter concerns over gas and diesel prices. President Trump told Texas voters that Venezuela could potentially become the 51st state to secure long-term energy supplies. However, independent experts question the reliability of Venezuela's stated 303 billion barrels of proven reserves.
What is confirmed
- President Donald Trump and Marco Rubio were expected to greet the first shipment of one million barrels of Venezuelan oil arriving in Texas.
- The initial shipment of Venezuelan oil is scheduled to be sold to Exxon and Citgo.
- ExxonMobil emphasizes the need for extensive additional changes in Venezuela before making financial investments.
- Chevron is moving forward at a faster pace in Venezuela.
Still unconfirmed
- President Donald Trump described the agreement as the biggest oil deal in history, encompassing 17 Venezuelan oilfields holding 64 billion barrels of reserves handed to a single company.
- President Donald Trump suggested that Venezuela could become a prosperous 51st state to secure additional oil supplies.
What to watch next
- Actual retail price drops for gasoline and diesel following the initial oil shipments
- Official corporate announcements from Exxon and Citgo regarding ongoing purchases
- Further policy developments concerning Venezuela's political and territorial status
confidence 90%Sources used for this update (7)
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- www.yahoo.com — Trump Floats Venezuela as 51st State - Yahoo
- financetime.org — Trump touted a record Venezuela oil deal. Now reality is ...
- finance.yahoo.com — Chevron speeds ahead in Venezuela while Exxon urges caution ...
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Trump Floats 51st State Idea as US Welcomes Venezuelan Oil
President Donald Trump welcomed one million barrels of Venezuelan oil to help lower gas prices for voters facing midterm concerns. Trump also suggested to Texas voters that Venezuela could become a prosperous 51st state to secure additional oil supplies. The White House asserted that gas and diesel prices will drop rapidly due to the administration's energy actions following the capture of Maduro. Meanwhile, experts challenge the accuracy of Venezuela's estimated 303 billion barrels of proven oil reserves, calling the figures inherently problematic.
Why it matters
The administration aims to revive Venezuela's oil industry following the ousting and capture of Maduro. North American Blue Energy Partners previously secured 100-year concessions covering 17 oil fields with planned investments reaching up to $100 billion. The full text of the accord remains closely guarded in Washington, D.C.
What is confirmed
- President Donald J. Trump welcomed one million barrels of Venezuelan oil as high gas prices concern voters ahead of the midterms.
- President Trump suggested to voters in Texas that Venezuela could become a prosperous 51st state so the United States could receive more oil.
- Experts state that Venezuela's estimate of 303 billion barrels of proven oil reserves is inherently problematic and far from proven.
Still unconfirmed
- Gas and diesel prices will soon drop rapidly thanks to President Trump's actions to unleash American energy.
What to watch next
- Public release of the full text of the Venezuela oil accord currently guarded in Washington, D.C.
- Actual impact of Venezuelan oil imports on domestic gas and diesel prices ahead of the midterms.
- Further developments regarding the 100-year concessions granted to North American Blue Energy Partners.
confidence 90%Sources used for this update (5)
- spectrumlocalnews.com — Trump talks Venezuela with oil executives - Spectrum News
- www.bostonherald.com — Trump’s math on US deal for Venezuelan oil doesn't add up ...
- www.whitehouse.gov — President Trump Secures Major Deals to Unleash American Energy and Cut Gas Prices at the Pump
- www.mediaite.com — ‘Oil for Ourselves’: Trump Floats Making Venezuela a ‘Prosperous 51st State’
- www.newsweek.com — Trump turns to socialist Venezuela as gas prices bite ahead ...
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Secret Text Reveals Terms of Trump Venezuelan Oil Deal
President Donald Trump secured what he described as the biggest oil deal in world history during late August following plans to run Venezuela after the ousting of Maduro. The full text of the accord remains closely guarded in Washington, D.C., while North American Blue Energy Partners received 100-year concessions covering 17 oil fields with planned investments reaching up to $100 billion. Analysts continue to question the agreement, and Venezuela's vice president has demanded the public release of Maduro. Meanwhile, separate events in Ukraine, Venezuela, and the Gulf are moving toward strategic fossil-fuel scarcity.
Why it matters
The secretive Venezuelan oil accord grants the United States access to massive reserves and includes structural mechanisms designed to prevent the next president from undoing the agreement. The Pentagon is set to buy into a Venezuelan billionaire's oil company for a penny a share under terms that could leave investors permanently anonymous. These developments tie into broader global shifts aimed at removing rival oil and gas from the market to drive up prices.
What is confirmed
- President Donald Trump announced what he called the biggest oil deal in world history in late August.
- The full text of the Venezuelan oil accord remains a secret in Washington, D.C.
Still unconfirmed
- The Pentagon will buy into a Venezuelan billionaire's oil company for a penny a share.
- The investors behind the oil company arrangement may never be named.
- The entire arrangement was designed to keep the next president from undoing it.
- North American Blue Energy Partners received 100-year concessions covering 17 oil fields with up to $100 billion in planned investments.
- Ukraine, Venezuela and the Gulf are strategic moves toward fossil-fuel scarcity to raise prices for remaining producers.
What to watch next
- Release of the full text of the Venezuelan oil accord
- Disclosure of the investors behind the oil company arrangement
- Official confirmation of Pentagon stock purchases in the Venezuelan billionaire's company
confidence 90%Sources used for this update (3)
- covertactionmagazine.com — 화석 연료 체크메이트 - 커버드액션 매거진
- politicalwire.com — The Secret Terms of Trump’s Venezuelan Oil Deal
- www.rawstory.com — 7 striking revelations buried in secret text of Trump's ...
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Full Text of Trump Venezuelan Oil Deal Remains Secret
The full text of the Venezuelan oil accord announced by President Donald Trump in late August remains a highly sought-after secret in Washington, D.C. Trump previously stated the United States secured majority control over 65 billion barrels of Venezuelan oil after plans to run Venezuela following the ousting of Maduro. North American Blue Energy Partners received 100-year concessions covering 17 oil fields with up to $100 billion in planned investments, drawing questions from analysts. Meanwhile, Venezuela's vice president demanded the release of Maduro during a public speech.
Why it matters
President Donald Trump announced what he termed the biggest oil deal in world history in late August, granting the United States sweeping access to Venezuelan oil reserves. The arrangement follows White House statements detailing long-term concessions and multibillion-dollar investments. Analysts and experts continue to question the secrecy, viability, and consequences of the pact.
What is confirmed
- In late August, President Donald Trump announced what he called the biggest oil deal in world history.
What to watch next
- Publication or disclosure of the full text of the accord
- Further developments regarding the 100-year concessions and investment plans
confidence 90%Sources used for this update (4)
- www.worldenergynewsonline.com — U.S.-Venezuela Oil Deal Sets New Scale for Investment
- asiatimes.com — The secret terms of Trump’s Venezuelan oil deal - Asia Times
- www.rawstory.com — The secret terms of Trump’s Venezuelan oil deal - Raw Story
- world-today-journal.com — The Secret Terms of Trump’s Venezuelan Oil Deal
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Trump Ally Harold Hamm Strikes Venezuela Oil Deal
President Trump states the United States secured majority control over 65 billion barrels of Venezuelan oil following plans to run Venezuela after ousting Maduro. The arrangement follows White House statements that North American Blue Energy Partners received 100-year concessions covering 17 oil fields with up to $100 billion in planned investments. The agreement has drawn criticism and questions from analysts and experts regarding its secrecy, viability, and short- and long-term consequences. Meanwhile, Venezuela's vice president demanded the release of Maduro in a speech.
Why it matters
Senate Democrats previously challenged the legality of a proposed arrangement giving the Pentagon a stake in oil company NABEP after a classified briefing provided zero answers. Five House Democrats demanded the full contract on September 30 and warned that subpoenas may follow. Critics and experts continue to question the overall viability of the agreement amid broader political battles.
What is confirmed
- President Trump states the United States secured majority control over 65 billion barrels of Venezuelan oil.
- The White House states that North American Blue Energy Partners received 100-year concessions covering 17 oil fields and plans to invest up to $100 billion.
Still unconfirmed
- Venezuela's vice president demanded in a speech that the U.S. free Maduro and called him the country's rightful leader.
What to watch next
- Congressional action regarding potential subpoenas for the full oil contract.
- Further disclosures from the White House regarding the 100-year concessions and Pentagon stake.
confidence 90%Sources used for this update (5)
- spectrumlocalnews.com — Trump: U.S. plans to 'run' Venezuela after ousting Maduro
- shalemag.com — Trump Venezuela Oil Deal: What 65 Billion Barrels Means for U ...
- venezuelanalysis.com — The ‘Biggest Oil Deal in History’ Is Turning Off the Lights in Venezuela
- www.newsweek.com — Trump’s Venezuela Deal Speaks the Language of Corruption ...
- www.ustoday-news.com — Remarkable US oil deal puzzles analysts – and angers many ...
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Senate Democrats Demand Details on Trump Venezuela Oil Deal
Senate Democrats have challenged the legality of a proposed arrangement giving the Pentagon a stake in oil company NABEP, following a classified briefing that produced zero answers. Five House Democrats demanded the full contract on September 30 and warned that subpoenas may follow. The White House states that North American Blue Energy Partners received 100-year concessions covering 17 oil fields and plans to invest up to $100 billion. Meanwhile, critics and experts continue to question the secrecy and overall viability of the agreement amid broader political battles.
Why it matters
The controversy surrounding the Venezuela oil arrangement unfolds against the backdrop of high-stakes midterm elections where Republicans face potential losses in Congress. Lawmakers from the opposition party are pressing administration officials for transparency over the legality of equity stakes and long-term concessions. Legal and economic hurdles compound the dispute as analysts evaluate the massive infrastructure investment required to restore Venezuelan energy assets.
What is confirmed
- Four ranking Democratic senators sent a letter to Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Energy Secretary Chris Wright regarding the arrangement.
- Five House Democrats demanded the full Venezuela-NABEP oil deal contract on September 30 after a classified briefing produced zero answers.
Still unconfirmed
- Subpoenas may follow if the administration fails to provide the full contract requested by House Democrats.
What to watch next
- Whether House Democrats issue subpoenas for the full Venezuela-NABEP contract
- Official responses from cabinet secretaries to the Senate inquiry
confidence 90%Sources used for this update (15)
- www.theguardian.com — Donald Trump - The Guardian
- www.whitehouse.gov — President Donald J. Trump - The White House
- en.wikipedia.org — Donald Trump - Wikipedia
- www.whitehouse.gov — Trump TV – The White House
- www.cnn.com — Donald J. Trump news | CNN Politics
- time.com — Fact-Checking What Donald Trump Said in His 2026 Interview ...
- www.wionews.com — Senate Democrats challenge legality of Pentagon's proposed ...
- www.latimes.com — Hiltzik: The mystery of Trump's Venezuela oil deal
- www.yahoo.com — Senate Democrats challenge Pentagon's Venezuela oil deal
- www.latintimes.com — Democrats to Trump: Show Us the Venezuela Oil Deal — or Face ...
- www.akm.ru — Vitol Group plans to acquire Venezuela's PDV Holdings
- upstreamcalendar.com — White House Announces Venezuela Oil Agreement Covering 17 ...
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Senate Democrats Challenge Pentagon Equity in Venezuela Oil Deal
Senate Democrats are questioning the legality of a plan to grant the Pentagon an equity stake in the oil company NABEP. This challenge comes as the State Department accuses the senators of grandstanding. The deal faces significant hurdles beyond political opposition, including a collapsed infrastructure that could require over $100 billion to restore. While Donald Trump previously described the arrangement as the largest in world history, legal and logistical obstacles continue to threaten its viability.
Why it matters
Continental Resources previously attempted to develop the Ayacucho 2 block through PDVSA. The current deal is complicated by questions over whether the Pentagon has the legal authority to hold equity in a foreign oil firm.
What is confirmed
- Senate Democrats are challenging the legality of the Pentagon taking a stake in a Venezuelan oil company.
- The State Department has accused Senate Democrats of grandstanding regarding the Venezuela oil deal.
- The Pentagon's plan involves an equity stake in the oil company NABEP.
Still unconfirmed
- Restoring Venezuela's oil infrastructure could cost more than $100 billion.
What to watch next
- Results of the potential Senate probe into the Pentagon's equity stake
- State Department responses to Democratic demands for a briefing
confidence 90%Sources used for this update (4)
- oilprice.com — Venezuela’s Oil Comeback Could Cost More Than $100 Billion
- politicalwire.com — Democrats Challenge Trump On Venezuela Oil Deal - Political Wire
- www.voiceofemirates.com — President Donald Trump's touted oil deal with Venezuela faces ...
- www.foxnews.com — Dems demanding Venezuela brief face State Dept fury as ...
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Trump Venezuela Oil Deal Faces Collapse Over Legal Hurdles
An oil agreement between the United States and Venezuela touted by Donald Trump as the biggest in world history is reportedly near collapse. A recent investigation reveals significant legal and financial obstacles threatening the initiative, including strict legal limits on the duration of the deal and serious questions regarding the authority of the Pentagon to hold equity. While Continental Resources previously moved to develop the Ayacucho 2 block through an agreement with PDVSA, implementation remains heavily burdened by these unresolved complications.
Why it matters
Continental Resources, led by Trump ally Harold Hamm, previously signed a preliminary agreement with PDVSA to operate the Ayacucho 2 block in the Orinoco Belt as United States firms accelerated activity in the region. However, the emerging legal and financial hurdles threaten to derail the broader arrangement. Meanwhile, interim president Delcy Rodriguez recently attended the United Nations General Assembly.
What is confirmed
- The United States oil deal with Venezuela faces multiple legal and logistical problems, including questions about implementation.
- Donald Trump has called the arrangement the biggest oil deal in world history.
- An investigation indicates the deal is likely to collapse due to legal limits on deal length and doubts over the Pentagon's authority to hold equity.
Still unconfirmed
- Venezuela interim president Delcy Rodriguez left this week's UN General Assembly with photos.
What to watch next
- Resolution or official clarification regarding the Pentagon's authority to hold equity in the project.
- Legal reviews addressing duration limits on the Venezuela oil agreement.
- Official updates from Continental Resources or PDVSA on the status of the Ayacucho 2 block development.
confidence 90%Sources used for this update (2)
- www.theguardian.com — The truth behind Donald Trump’s ‘biggest oil deal in world ...
- primexbt.com — Trump’s Venezuela oil deal unravels under legal and financial ...
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Continental Resources Strikes Preliminary Venezuela Oil Deal
Continental Resources, led by Trump ally and donor Harold Hamm, has signed a memorandum of understanding with Petróleos de Venezuela, S.A., known as PDVSA. The preliminary agreement aims to operate and develop the Ayacucho 2 block situated within Venezuela's Orinoco Belt. United States energy officials confirmed that an American energy producer was set to unveil the investment. The move is part of accelerating commercial activity by United States firms in the South American country's energy sector.
Why it matters
The preliminary agreement reflects a major shift as American energy producers re-enter the Venezuelan market under shifting political dynamics. Continental Resources is taking a primary role through its accord with the state-owned oil company. Meanwhile, other industry players like Exxon are advancing separate talks to return to the region.
What is confirmed
- Continental Resources signed a memorandum of understanding with Petróleos de Venezuela, S.A. to operate and develop the Ayacucho 2 block in Venezuela's Orinoco Belt.
- Harold Hamm is the head of Continental Resources and a Trump ally and donor.
Still unconfirmed
- Exxon is nearing a preliminary deal to invest in Venezuela's oil fields and advance talks to return to the Orinoco Belt.
What to watch next
- Finalization of the preliminary agreement between Continental Resources and PDVSA.
- Progress on potential oil field deals involving Exxon and other United States energy producers.
confidence 100%Sources used for this update (12)
- cnbc.com — Continental Resources to develop massive oil patch in Venezuela
- WSJ — Harold Hamm’s Continental Resources Signs Preliminary Oil Deal in Venezuela
- Reuters — US energy producer to unveil Venezuela investment, energy secretary says
- Bloomberg.com — Harold Hamm’s Continental Set to Announce Venezuela Oil Deal
- The New York Times — Trump Ally Harold Hamm Strikes Venezuela Oil Deal
- PR Newswire — Continental Resources Signs Memorandum of Understanding with Petróleos de Venezuela, S.A. (PDVSA) to Operate and Develop the Ayacucho 2 Block in Venezuela's Orinoco Belt
- wsj.com — Exclusive | Exxon Is Nearing a Preliminary Deal to Invest in Venezuela’s Oil Fields
- Bloomberg.com — Exxon Is in Talks to Return to Venezuela as US Deals Accelerate
- The Hill — Trump donor Harold Hamm’s oil company announces Venezuela deal
- Reuters — Exxon advances talks to return to Venezuela's Orinoco Belt, sources say
- Mother Jones — Trump’s Friends Are Already Signing Deals to Take Venezuela’s Oil
- Financial Times — Trump oil ally Harold Hamm to invest in Venezuela
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