US secures majority control of Venezuelan oil reserves – Trump
President Donald Trump said on Friday that his administration has reached a huge oil deal with Venezuela that gives the United States majority control of 65 billion barrels of proven petroleum reserves. The deal — which Trump proclaimed as “the biggest oil deal in world history” — will bring nearly $100 billion in private investment Read More:…
The US has reached a deal with Venezuela to gain majority control of 65 billion barrels of proven oil reserves. According to President Donald Trump, the agreement, described as "the biggest oil deal in world history," will bring nearly $100 billion in private investment to Venezuela.
The deal was reached by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth with Venezuela's interim leader, Delcy Rodriguez, through a partnership with private business. Trump claimed the agreement will more than double US oil reserves and substantially lower gas prices for Americans.
Rodriguez confirmed the agreement, hailing it as a "historic" deal that would have a significant impact on Venezuela's economic revival, with potential investment of over $100 billion and more than $209 billion in tax revenue for the state. The Venezuelan government has been under intense pressure from the Trump administration since the US ousted and captured long-time ruler Nicolas Maduro.
Brief written by urgent.news from Punch Nigeria, Gulf News, MyJoyOnline Ghana, Sky News, New Straits Times — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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