{
  "id": 4091197,
  "title": "Trump Says US Has Entered Deal with Venezuela to Take Control of 65 Billion Barrels of Oil Reserves",
  "url": "https://urgent.news/2026/08/29/trump-says-us-has-entered-deal-with-venezuela-to-take-control-of-65-4091197",
  "topic": "world",
  "section": "World",
  "published": "2026-08-29T03:02:25.000Z",
  "source": {
    "name": "The Japan News by The Yomiuri Shimbun",
    "slug": "the-japan-news-by-the-yomiuri-shimbun",
    "url": "https://japannews.yomiuri.co.jp/news-services/ap/20260829-346086/"
  },
  "original_language": "en",
  "account": "President Donald Trump announced Friday that the United States has reached a major agreement with Venezuela, potentially granting access to the South American nation's vast oil reserves. The deal, negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuela's acting President Delcy Rodríguez, could yield 65 billion barrels of oil, according to the Venezuelan government. If executed, the agreement could bring in $100 billion in investment and over $209 billion in taxes for Venezuela. In return, the U.S. would secure 55% of the output from the new private company, which would be granted 100-year rights to develop the oil fields. The company would be the second-largest corporate holder of proven reserves after Saudi Aramco. Trump emphasized the deal's potential to reshape the global oil market and benefit both American and Venezuelan people. However, some experts caution that significant production increases will take years due to infrastructure challenges and political instability. The agreement comes amid rising U.S. gas prices and ongoing tensions with Iran.",
  "summary": "WASHINGTON (AP) — President Donald Trump said Friday that his administration has entered a sweeping agreement with Venezuela that, if realized, could give the U.S. access to vast amounts of the South American country’s untapped oil reserves, at cost.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "The Korea Times",
        "title": "Trump says US has entered deal with Venezuela to take control of 65 bil. barrels of oil reserves",
        "url": "https://urgent.news/2026/08/29/trump-says-us-has-entered-deal-with-venezuela-to-take-control-of-65",
        "published": "2026-08-29T01:02:03.000Z"
      },
      {
        "outlet": "Free Press Journal",
        "title": "'The Biggest Oil Deal In World History': President Trump Unveils Landmark US-Venezuela Pact To Tap 65 Billion Barrels Of Oil Reserves",
        "url": "https://urgent.news/2026/08/29/the-biggest-oil-deal-in-world-history-president-trump-unveils",
        "published": "2026-08-29T03:20:33.000Z"
      },
      {
        "outlet": "The Mainichi",
        "title": "Trump says US has entered deal with Venezuela to take control of 65 billion barrels of oil reserves",
        "url": "https://urgent.news/2026/08/29/trump-says-us-has-entered-deal-with-venezuela-to-take-control-of-65-4112873",
        "published": "2026-08-29T05:00:03.000Z"
      }
    ]
  },
  "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."
}