by WorldTribune Staff, August 31, 2026 Non-AI Real World News
President Donald Trump announced his sweeping new deal giving the United States a 55% ownership stake and control over 65 billion barrels of oil reserves in Venezuela “more than doubles” American oil reserves.
The agreement includes a 100-year lease or concession for the Venezuelan oil fields.
The president wrote in a post to Truth Social:
“BREAKING NEWS: The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!
“At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, and, through a partnership with private business, have secured majority U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer.
“This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity.
“This Transaction will greatly strengthen the already growing relationship between Venezuela and the United States! Thank you for your attention to this groundbreaking matter. MAKE AMERICA GREAT AGAIN! President DONALD J. TRUMP.”
Under the agreement, the U.S. government will form a joint venture with an unnamed private business in Venezuela.
“This new entity will be the second-largest corporate holder of proven reserves [in the world] after Saudi Aramco,” The Epoch Times cited a U.S. official as saying.
The U.S. government will control more than half of the new entity’s value through direct equity and guaranteed at-cost offtake, meaning discounted oil purchases.
In a statement, Rubio described the deal as “a huge win” for Americans and Venezuelans.
The agreement, he said, “will bring nearly $100 billion in private investment” to Venezuela, creating new jobs and reviving the country’s economy.
250 Years of Freedom Is At Risk
Big deal: Venezuela agreement gives U.S. majority control of proven oil reserves added by Editor Two on
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