Trump Negotiates 100-Year Lease for Venezuelan Oil Fields
The United States is negotiating a 100-year lease for 17 Venezuelan oil fields to secure 90 billion barrels of reserves and bolster U.S. energy dominance.
The Donald Trump administration is in advanced negotiations with the Interim Government of Venezuela to acquire an ownership stake or a 100-year lease in 17 oil-and-gas fields. Located primarily in the Orinoco Belt and Lake Maracaibo, these fields contain approximately 90 billion barrels of proven reserves, a volume that would more than double U.S. oil reserves. The deal, led by Secretary of State Marco Rubio and Interim President Delcy Rodríguez, aims to replenish the U.S. Strategic Petroleum Reserve, which has hit a 40-year low, and displace Chinese influence in the region under the "Donroe Doctrine."
This diplomatic push follows a January 3 operation in which U.S. special forces captured President Nicolás Maduro. Since then, Washington has controlled Venezuelan oil sales and revenues, holding them in U.S. Treasury accounts. Under the proposed agreement, private American firms would develop the fields through auctions or tenders to increase revenue for Venezuela. Chevron Corp. has already increased daily production to 280,000 barrels, with plans for a 50 percent increase by 2028.
The proposal has faced intense backlash from Venezuelan opposition members and economists, who describe the deal as "predatory," "unconstitutional," and "colonial." Critics argue the interim government lacks the legitimacy to sign such an agreement, noting that the Venezuelan constitution reserves core industry activities for the state. Additionally, Venezuela is considering withdrawing from the Organization of Petroleum Exporting Countries (OPEC) as part of this strategic shift.
