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Trump hails 'historic' deal for US to control 65bn barrels of Venezuela's oil
Confirmed
The administration, Trump wrote , has “secured majority U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer”. US president says US will have ‘majority’ control of 65bn barrels of proven oil reserves US president says US will have ‘majority’ control of 65bn barrels of proven oil reserves Donald Trump announced Friday a new US oil agreement with Venezuela’s interim president Delcy Rodríguez, saying the US will have “majority” control of 65bn barrels of proven oil reserves.
In his own post, Trump said Rubio and Defence Secretary Pete Hegseth had reached the agreement with Venezuela's leadership "through a partnership with private business". The deal calls for the development of 17 strategic oil fields with a proven potential of 65 billion barrels, as well as "an investment of more than $100 billion, and more than $209 billion in taxes for the State", Rodriguez said.
"For the Venezuelan people, this deal will bring nearly $100 billion in private investment, support thousands of high-paying jobs, and drive the reconstruction of Venezuela's economy," Rubio said on social media. Trump in a social media post announcing the agreement said it was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Venezuela's acting President Delcy Rodríguez.
Mr. Trump said in a social media post the deal was made "at no cost to the American Taxpayer" and was struck "through a partnership with private business. Rodríguez's government in a statement said the deal involves the development of 17 fields with a proven potential of 65 billion barrels.
In the hours after the raid, Trump said his administration would run Venezuela until a "safe, proper and judicious transition" could take place, adding that the US would indefinitely control the sale of the country's oil.
Trump’s announcement provided few details on the structure of the agreement, the fields or companies involved, or how the US would exercise majority control over the reserves. Trump vowed to tap Venezuela's reserves, the world's largest, after the US captured its then-President Nicolás Maduro this year.
WASHINGTON (AP) — President Donald Trump said Friday that his administration has entered a sweeping agreement with Venezuela that, if realized, could give the U.S. access to vast amounts of the South American country's untapped oil reserves, at cost.
Venezuela has the world's largest proven oil reserves , at just over 300 billion barrels, according to the U.S. Energy Information Administration. Since the US captured and removed former Venezuelan president Nicolás Maduro from power in January, Washington has been trying to secure a stable flow of Venezuelan crude oil for US refineries while promoting American investment into the Opec country’s deteriorated energy industry, which produces 1.25m barrels per day of crude.
What's confirmed
- US president says US will have ‘majority’ control of 65bn barrels of proven oil reserves US president says US will have ‘majority’ control of 65bn barrels of proven oil reserves Donald Trump announced Friday a new US…
- "For the Venezuelan people, this deal will bring nearly $100 billion in private investment, support thousands of high-paying jobs, and drive the reconstruction of Venezuela's economy," Rubio said on social media.
- In his own post, Trump said Rubio and Defence Secretary Pete Hegseth had reached the agreement with Venezuela's leadership "through a partnership with private business".
- The deal calls for the development of 17 strategic oil fields with a proven potential of 65 billion barrels, as well as "an investment of more than $100 billion, and more than $209 billion in taxes for the State",…
- WASHINGTON (AP) — President Donald Trump said Friday that his administration has entered a sweeping agreement with Venezuela that, if realized, could give the U.S. access to vast amounts of the South American…
- Trump in a social media post announcing the agreement said it was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Venezuela's acting President Delcy Rodríguez.
- Rodríguez's government in a statement said the deal involves the development of 17 fields with a proven potential of 65 billion barrels.
- The administration, Trump wrote , has “secured majority U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer”.
What's still developing
- Trump vowed to tap Venezuela's reserves, the world's largest, after the US captured its then-President Nicolás Maduro this year.
- From boom to bust: A rare look inside one of Venezuela’s once prosperous oil towns Venezuela's interim president said in a statement that the agreement would have "a significant impact on our nation's revival".
- In the hours after the raid, Trump said his administration would run Venezuela until a "safe, proper and judicious transition" could take place, adding that the US would indefinitely control the sale of the country's…
- It said the agreement could draw $100 billion in investment into Venezuela's oil industry and yield over $209 billion in taxes for Caracas.
- The agreement allows for the United States to partner with an unnamed private operator in Venezuela to create a new private company to take hold of the reserves, according to a U.S. official familiar with the…
- Trump’s announcement provided few details on the structure of the agreement, the fields or companies involved, or how the US would exercise majority control over the reserves.
- Since the US captured and removed former Venezuelan president Nicolás Maduro from power in January, Washington has been trying to secure a stable flow of Venezuelan crude oil for US refineries while promoting…
- Earlier this week, the Wall Street Journal reported that the Trump administration was “in advanced talks with Venezuela for the U.S. to take a direct stake in more than a dozen oilfields that house nearly one-third…