Trump Claims US Secured Majority Control of Venezuelan Oil Reserves in New Deal
US President Donald Trump says the United States has secured majority control of 65 billion barrels of Venezuela’s proven oil reserves under what he called the largest oil deal in history. Trump said the agreement could bring nearly $100 billion in private investment to Venezuela and significantly expand US oil reserves. Venezuela’s interim leader, Delcy Rodriguez, also described the deal as historic and said it could support reconstruction and generate major tax revenue. However, key details remain unclear. Energy analyst Jorge Pinon said it is uncertain whether the arrangement involves a sale, a title transfer or rights that would apply only when production begins. Venezuela holds an estimated 300 billion barrels of proven oil reserves, the largest in the world. US oil firms have remained cautious about expanding operations there because of infrastructure problems and concerns about investment security.
Use The App To Win ₦1m
Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.