Trump Secures Majority Control of 65 Billion Barrels of Venezuelan Oil

President Donald Trump announced a bilateral energy agreement with Venezuela granting the United States majority control over more than 65 billion barrels of proven oil reserves. Described as the biggest oil deal in world history, the pact involves 100-year concessions for 17 strategic fields in the Orinoco Belt and Lake Maracaibo. The U.S. government will reportedly hold a 55% effective output stake, with oil provided at cost to supply the U.S. military and replenish the Strategic Petroleum Reserve, which has hit a 40-year low.

Negotiated by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth with Venezuelan interim President Delcy Rodríguez, the deal follows the January capture of former President Nicolás Maduro by U.S. forces. The U.S. will reportedly take a 35% passive stake in North American Blue Energy Partners, a private firm led by Alejandro Betancourt López, using penny warrants via the Pentagon's Office of Strategic Capital to avoid taxpayer costs. Rodríguez claims the project will attract $100 billion in private investment and generate over $200 billion in tax revenue for Venezuela.

Contradictions exist regarding the deal's duration, with the Trump administration citing 100-year contracts while Rodríguez describes a 25-year venture. The agreement comes amid high domestic gas prices and supply disruptions caused by a six-month war with Iran and the blockade of the Strait of Hormuz. Critics, including Democratic lawmakers and Venezuelan opposition, have condemned the deal as a private oil grab and an unconstitutional violation of national sovereignty. Energy analysts warn that dilapidated infrastructure means production increases will take years to materialize.