{
  "id": 4076275,
  "title": "Trump says US is taking partial control of Venezuela's oil reserves",
  "url": "https://urgent.news/2026/08/29/trump-says-us-is-taking-partial-control-of-venezuelas-oil-reserves",
  "topic": "world",
  "section": "World",
  "published": "2026-08-29T01:30:53.000Z",
  "source": {
    "name": "ABC News AU",
    "slug": "abc-news-au",
    "url": "https://www.abc.net.au/news/2026-08-29/trump-announces-us-venezuela-oil-reserves-deal/107093382"
  },
  "original_language": "en",
  "account": "President Donald Trump announced on Friday that the United States has reached an agreement with Venezuela to take majority control of over 65 billion barrels of Venezuela's oil reserves, as reported by the Associated Press. The deal is described by Mr. Trump as \"the biggest oil deal in world history\" and was arranged through a partnership with private businesses. The White House has not disclosed the names of these private sector partners or the specifics of how the arrangement will work. Secretary of State Marco Rubio and Secretary of War Pete Hegseth worked closely with interim President of Venezuela, Delcy Rodriguez, to secure the agreement.\n\nThe White House emphasized that the deal will not cost the American taxpayer anything and will lead to $100 billion in private investment into Venezuela, potentially resulting in lower gas prices in the United States. This announcement comes nine months after the U.S. military captured then-President Nicolás Maduro and transported him to the U.S. to face narcoterrorism and drug trafficking charges. The country has been grappling with political instability and a significant drop in oil production due to poor infrastructure. Venezuela is estimated to have 303 billion barrels of proven oil reserves, accounting for about 17% of the world's supply.",
  "summary": "The United States has struck a deal with Venezuela to secure \"majority US control\" of more than 65 billion barrels of Venezuelan oil, according to Donald Trump.",
  "key_points": [
    "U.S. to take majority control of 65 billion barrels of Venezuela's oil reserves",
    "Deal valued at $100 billion in private investment, potentially lowering U.S. gas prices"
  ],
  "editors_take": "The US securing majority control of Venezuela's massive oil reserves sets a new US priority on direct involvement in South American energy markets and hands American private partners a potential $100 billion investment opportunity.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}