Trump announces US takeover of Venezuelan oil
Washington and Caracas announced a deal on Friday that gives the United States control over 65 billion barrels of Venezuela's oil reserves.
The US has finalized a major oil agreement with Venezuela, giving the US majority control of 65 billion barrels of proven oil reserves. According to President Donald Trump, this deal is the biggest oil deal in world history.
The agreement involves private companies and is expected to bring nearly $100 billion in private investment to Venezuela, as reported by Punch Nigeria and Gulf News.
The deal was reached by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth with Venezuela's interim leader, Delcy Rodriguez, according to Gulf News. Rodriguez confirmed the agreement, hailing potential investment of more than $100 billion and over $209 billion in tax revenue for the State.
Brief written by urgent.news from Daily Times, Punch, Punch Nigeria, Gulf News — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- Trump announces major US stake in Venezuelan oil dailytimes.com.pk
