Live Feeds
● LIVE Updated 2h ago · 15 sources tracked

Venezuelan opposition up in arms over reports US wants big stake in oil and gas

The Trump administration announced a deal Friday to secure a majority stake in Venezuela's oil reserves. The White House is partnering with North American Blue Energy Partners to give the Pentagon a stake in the reserves. While the agreement would double American oil reserves, energy experts and reports suggest any reduction in gasoline costs is uncertain and unlikely in the near term. The White House describes the arrangement as the biggest oil deal in world history, aimed at American energy dominance and Venezuelan economic recovery.

RSS Source map (15)

What changed

The White House identified North American Blue Energy Partners as the partner and the Pentagon as a stakeholder in the reserves.

Live updates

  1. White House Partners With North American Blue Energy Partners for Venezuela Oil Deal

    The Trump administration announced a deal Friday to secure a majority stake in Venezuela's oil reserves. The White House is partnering with North American Blue Energy Partners to give the Pentagon a stake in the reserves. While the agreement would double American oil reserves, energy experts and reports suggest any reduction in gasoline costs is uncertain and unlikely in the near term. The White House describes the arrangement as the biggest oil deal in world history, aimed at American energy dominance and Venezuelan economic recovery.

    Why it matters

    The deal grants access to 65 billion barrels of untapped reserves. Venezuelan opposition critics view the move as predatory and unconstitutional. The Venezuelan government has previously considered exiting OPEC to prioritize this relationship.

    What is confirmed

    • The Trump administration announced a deal Friday for the U.S. to take a majority stake in Venezuela's oil reserves.
    • The agreement would double American oil reserves.
    • The White House is partnering with North American Blue Energy Partners to give the Pentagon a stake in the reserves.

    Still unconfirmed

    • Chevron will soon announce an expansion of its operations in Venezuela.
    • The deal will drive Venezuela's economic recovery.

    What to watch next

    • Release of the official agreement text
    • Confirmation of Chevron's operational expansion
    • Official announcement regarding Venezuela's status in OPEC
    Sources used for this update (5)
    1. www.bostonglobe.com — Trump made Venezuela an offer it couldn’t refuse, but don’t hold your breath for lower gas prices
    2. www.ideastream.org — The U.S.-Venezuela oil deal won't lower your gas prices. Here's what you need to know
    3. www.whitehouse.gov — Fact Sheet: President Donald J. Trump Announces Historic Oil Agreement to Secure American Energy Dominance and Drive Venezuela’s Economic Recovery
    4. apnews.com — White House working with North American Blue Energy Partners on Venezuela oil deal
    5. apnews.com — Oil giant Chevron is expected to announce it will expand operations in Venezuela, US official says
    confidence 90%

  2. US secures majority ownership in joint Venezuelan oil venture

    The United States has entered an agreement to take majority ownership in a joint oil venture with a Venezuelan energy company. While the deal provides access to 65 billion barrels of untapped reserves, the specific terms remain opaque. No official text of the agreement has been released, leaving the timeline for drilling and the funding source for operations unknown. Venezuelan opposition critics claim the arrangement is unconstitutional and predatory, while the Venezuelan government considers leaving OPEC to strengthen its relationship with the US.

    Why it matters

    Venezuela holds some of the largest oil reserves globally but has faced years of political instability. This deal shifts control of energy assets toward the US during a period of high political risk. The move could alter global energy markets if Venezuela exits the OPEC cartel.

    What is confirmed

    • The US deal provides access to 65 billion barrels of untapped Venezuelan oil reserves.
    • No text of the agreement has been released.

    Still unconfirmed

    • The US will take majority ownership in a joint oil venture with a Venezuelan energy company.
    • Venezuela is weighing an exit from OPEC.
    • The US will acquire the oil reserves at cost.

    What to watch next

    • Release of the formal agreement text
    • Confirmation of Venezuela's membership status in OPEC
    • Announcement of the funding entity for drilling operations
    Sources used for this update (4)
    1. apnews.com — What we know about Trump’s deal giving US access to vast oil reserves in Venezuela
    2. www.pbs.org — What we know about Trump's deal giving U.S. access to vast oil reserves in Venezuela
    3. www.cnn.com — Trump found an unusual solution to his Venezuela problem
    4. www.forbes.com — The U.S. Takes Control Of Venezuelan Oil—Sort Of
    confidence 70%

  3. Trump Announces Deal for 65 Billion Barrels of Venezuelan Oil Reserves

    President Donald Trump announced a sweeping agreement giving the U.S. access to 65 billion barrels of untapped Venezuelan oil reserves at cost. The move has sparked anger among Venezuelan opposition critics who describe the pursuit of long-term energy access as predatory and unconstitutional. While the U.S. seeks a vast and potentially costly stake in the industry, Venezuela is reportedly weighing an exit from OPEC after decades of membership to further deepen its ties with the United States.

    Why it matters

    Venezuela holds some of the largest energy reserves globally. This shift in relations represents a departure from previous diplomatic tensions and a move toward strategic energy integration.

    What is confirmed

    • President Donald Trump says the U.S. entered a deal for access to 65 billion barrels of Venezuelan oil reserves at cost.
    • The U.S. is seeking a vast and potentially costly stake in the Venezuelan oil industry.
    • Venezuelan opposition critics have called the U.S. move to gain long-term energy access predatory and unconstitutional.

    Still unconfirmed

    • Chevron is in talks to expand its operations in Venezuela.
    • Venezuela is considering leaving OPEC to deepen ties with the U.S.

    What to watch next

    • Confirmation of the legal framework for the 65 billion barrel reserve transfer
    • Official announcement regarding Venezuela's membership status in OPEC
    Sources used for this update (9)
    1. Axios — Scoop: U.S. close to striking "massive" deal for Venezuelan oil fields
    2. Bloomberg.com — Venezuela Weighs OPEC Exit After Decades as It Deepens US Ties
    3. The Washington Post — Trump seeks vast, potentially costly U.S. stake in Venezuelan oil industry
    4. The Guardian — Reports that US wants big stake in Venezuelan oil and gas spark anger
    5. The New York Times — Oil Giant Chevron Is Said to Be in Talks to Expand in Venezuela
    6. www.usatoday.com — U.S. seeks vast, potentially costly stake in Venezuelan oil industry
    7. www.theguardian.com — Venezuelan opposition up in arms over reports US wants big stake in oil and gas
    8. larepublica.es — Tensión geopolítica y crisis humanitaria marcan la jornada
    9. apnews.com — Trump says US has entered deal with Venezuela to take control of 65 billion barrels of oil reserves
    confidence 90%