US strikes deal for 65 billion barrels of Venezuelan oil reserves

US President Donald Trump has announced a deal securing majority control over more than 65 billion barrels of Venezuela’s oil reserves. The agreement involves a joint company between the US government and a Venezuelan private operator, which will receive a 100-year lease to develop 17 oil fields. Venezuela’s acting president sees potential for billions in investment, but critics raise concerns about the deal's legality and its impact on Venezuelan sovereignty.

The deal is seen as a victory for Trump, who has long urged American oil companies to return to Venezuela following the ouster of Nicolás Maduro. Chevron and other oil companies are reportedly nearing billion-dollar deals, as reported by The Wall Street Journal.

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