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● LIVE Updated 1h ago · 21 sources tracked

Trump says he has secured a vast U.S. stake in Venezuelan oil industry

The US has secured a stake in a private company with rights to develop 17 Venezuelan oil fields containing 65 billion barrels of oil. The Pentagon will hold 35% ownership, while the State Department has a guarantee to buy 20% of the oil output at cost. President Trump calls it the biggest oil deal in world history, aiming to lower US gas prices and stabilize regional oil supply.

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What changed

The specific ownership terms of the US agreement with Venezuela have been revealed, with the Pentagon and State Department's roles clarified.

Live updates

  1. US secures stake in Venezuelan oil industry

    The US has secured a stake in a private company with rights to develop 17 Venezuelan oil fields containing 65 billion barrels of oil. The Pentagon will hold 35% ownership, while the State Department has a guarantee to buy 20% of the oil output at cost. President Trump calls it the biggest oil deal in world history, aiming to lower US gas prices and stabilize regional oil supply.

    Why it matters

    This development is part of the Trump administration's efforts to secure energy resources and influence global oil markets. The deal's impact on US energy policy and regional geopolitics is significant. The arrangement's details and funding sources remain unclear.

    What is confirmed

    • The US will take a stake in a private company with the rights to develop 17 oil fields believed to contain 65 billion barrels of oil.
    • The Pentagon will hold a 35% ownership stake in the private company.
    • The State Department secured a guarantee to purchase 20% of the oil output at cost.

    Still unconfirmed

    • The deal requires $100B in funding, but sources are unclear on where this will come from.

    What to watch next

    • Details on funding sources for the $100B deal
    • Official release of the agreement's formal text
    • Impact on US gas prices and regional oil supply
    Sources used for this update (4)
    1. www.theatlantic.com — Trump Meant It Literally When He Said He Was Taking the Oil
    2. www.readtangle.com — The U.S. oil deal with Venezuela.
    3. finance.yahoo.com — The biggest unanswered question in Trump's Venezuelan oil deal: Where will the $100B in funding come from?
    4. english.aawsat.com — SABIC, Lenovo Sign MoU to Explore Cooperation Opportunities
    confidence 75%

  2. White House details ownership and purchase terms for Venezuela oil deal

    The Trump administration has provided specific ownership terms for its agreement to secure majority control of Venezuelan oil reserves. The Pentagon will hold a 35% ownership stake in a newly created private company, while the State Department secured a guarantee to purchase 20% of the oil output at cost. President Trump describes the arrangement as the biggest oil deal in world history, intended to lower domestic gas prices and stabilize the regional oil supply. No formal text of the agreement has been made public.

    Why it matters

    The deal targets Venezuela's massive oil reserves to increase American energy dominance. It aims to drive economic recovery in Venezuela while securing low-cost energy for the U.S.

    What is confirmed

    • President Donald J. Trump secured U.S. majority control in an oil agreement he calls the biggest oil deal in world history.
    • The Pentagon holds a 35% ownership stake in the private company created by the deal.
    • The State Department has a guarantee to purchase 20% of the output at cost.

    Still unconfirmed

    • The deal provides majority control of over 60 billion barrels of oil.
    • The agreement will substantially lower gas prices.

    What to watch next

    • Release of the formal agreement text
    • Details on the funding source for drilling operations
    • Timeline for when reserves will begin production
    Sources used for this update (4)
    1. www.whitehouse.gov — Fact Sheet: President Donald J. Trump Announces Historic Oil Agreement to Secure American Energy Dominance and Drive Venezuela’s Economic Recovery
    2. www.bostonherald.com — What we know about Trump’s deal giving US access to vast oil reserves in Venezuela
    3. www.nbcnews.com — Days after Trump announces Venezuela oil deal, White House fills in some of the details
    4. slate.com — Trump Breaks a Lot of American Traditions. He’s Keeping This Awful One.
    confidence 90%

  3. Trump claims U.S. secured majority control of Venezuelan oil reserves

    President Donald Trump announced a deal granting the United States control over a significant portion of Venezuela's oil reserves. Trump described the agreement as the "BIGGEST OIL DEAL IN WORLD HISTORY," claiming it provides majority control of over 60 billion barrels of oil. The administration asserts the move will substantially lower gas prices. While some reports specify a 65 billion barrel stake, other details regarding the cost and legal framework of the long-term agreement remain unclear.

    Why it matters

    Venezuela holds some of the largest proven oil reserves globally. This deal aims to boost U.S. reserves and shift the geopolitical energy balance in the region. The agreement's execution depends on Venezuela's ability to increase production.

    What is confirmed

    • President Trump announced a deal giving the U.S. control of more than 60 billion barrels of proven Venezuelan oil reserves.
    • Trump characterized the agreement as the "BIGGEST OIL DEAL IN WORLD HISTORY."
    • The administration claims the deal will substantially lower gas prices.

    Still unconfirmed

    • The agreement is set to last for 25 years.
    • Venezuela will increase its output to 1.5 million barrels a day.
    • The deal covers 65 billion barrels of oil.

    What to watch next

    • Verification of the legal framework and cost of the acquisition
    • Confirmation of Venezuelan production increases to 1.5 million barrels a day
    • Official documentation detailing the 25-year term of the agreement
    Sources used for this update (12)
    1. Axios — Scoop: U.S. close to striking "massive" deal for Venezuelan oil fields
    2. The Washington Post — Trump seeks vast, potentially costly U.S. stake in Venezuelan oil industry
    3. The New York Times — Trump Administration Live Updates: President Says U.S. To Take Control of Big Portion of Venezuelan Oil
    4. CBS News — Trump says U.S. now has majority control of over 60 billion barrels of Venezuelan oil reserves
    5. Fox Business — Trump announces ‘biggest oil deal in world history,’ says it will substantially lower gas prices
    6. www.usatoday.com — Trump says Venezuela deal will give US stake in 65 billion barrels of oil
    7. www.nzherald.co.nz — Donald Trump says he has secured a vast US stake in Venezuelan oil industry
    8. www.yahoo.com — Trump says U.S. now has control of over 60 billion barrels of Venezuelan oil reserves
    9. www.yahoo.com — Trump Says He’s Secured ‘U.S. Control’ of Venezuelan Oil in ‘BIGGEST OIL DEAL IN WORLD HISTORY’
    10. apnews.com — What we know about Trump’s deal giving US access to vast oil reserves in Venezuela
    11. www.abc.net.au — What we know about US President Donald Trump's Venezuela oil deal
    12. san.com — US, Venezuela tout ‘biggest oil deal in world history’
    confidence 80%