{
  "id": 4106619,
  "title": "Trump says US is taking partial control of Venezuela's vast oil reserves",
  "url": "https://urgent.news/2026/08/29/trump-says-us-is-taking-partial-control-of-venezuelas-vast-oil-4106619",
  "topic": "world",
  "section": "World",
  "published": "2026-08-29T04:28:41.000Z",
  "source": {
    "name": "Dawn",
    "slug": "dawn",
    "url": "https://www.dawn.com/news/2025926/trump-says-us-is-taking-partial-control-of-venezuelas-vast-oil-reserves"
  },
  "original_language": "en",
  "account": "President Donald Trump announced on Friday that the United States has secured majority control of over 65 billion barrels of Venezuela's proven oil reserves through a partnership with private business. The deal, which has not been fully detailed yet, aims to revive Venezuela's energy industry and secure a new source of crude to help lower US fuel prices.\n\nVenezuela, which holds the world's largest proven oil reserves, currently produces only about 1.25 million barrels per day, far below its potential after years of underinvestment, mismanagement, and sanctions. The new agreement, brokered between Secretary of State Marco Rubio, Secretary of War Pete Hegseth, and interim Venezuelan President Delcy Rodriguez, would see American companies gain long-term access to select Venezuelan oilfields, guaranteeing a supply of crude to US refineries.\n\nRubio and Rodriguez described the deal as a win-win, claiming it would bring nearly $100 billion in private investment, create thousands of jobs, and help modernize Venezuela's industry and energy security. However, analysts have expressed uncertainty over the deal's legal and financial structure, questioning whether it complies with Venezuela's new hydrocarbons law and whether it will actually lower gasoline prices in the short term. The US administration is under pressure to address consumer concerns about rising gasoline prices ahead of the midterm elections in November.",
  "summary": "United States President Donald Trump on Friday announced an unprecedented push to take control of a fifth of Venezuela’s vast oil reserves, betting that American companies can revive the Opec nation’s battered energy industry while delivering a new source of crude to help bring down US fuel prices. Trump provided few details about the agreement, saying only that the US had secured majority…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 11,
    "also_reported_by": [
      {
        "outlet": "Fortune",
        "title": "Amid high gas prices and shrinking crude stockpile, Trump says U.S. to take control of 65 billion barrels of Venezuelan oil reserves",
        "url": "https://urgent.news/2026/08/28/amid-high-gas-prices-and-shrinking-crude-stockpile-trump-says-u-s-to",
        "published": "2026-08-28T23:29:31.000Z"
      },
      {
        "outlet": "Live Mint",
        "title": "Trump announces ‘biggest oil deal in history’ giving US majority control of 65 billion barrels of Venezuelan reserves",
        "url": "https://urgent.news/2026/08/29/trump-announces-biggest-oil-deal-in-history-giving-us-majority",
        "published": "2026-08-29T00:20:32.000Z"
      },
      {
        "outlet": "Financial Times",
        "title": "Trump says US to take control of 65bn barrels of Venezuelan oil",
        "url": "https://urgent.news/2026/08/29/trump-says-us-to-take-control-of-65bn-barrels-of-venezuelan-oil",
        "published": "2026-08-29T00:36:22.000Z"
      },
      {
        "outlet": "Hindu BusinessLine",
        "title": "US-Venezuela oil deal: Trump announces agreement over 65 billion barrels of reserves",
        "url": "https://urgent.news/2026/08/29/us-venezuela-oil-deal-trump-announces-agreement-over-65-billion",
        "published": "2026-08-29T01:05:14.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Trump says US is taking partial control of Venezuela’s vast oil reserves",
        "url": "https://urgent.news/2026/08/29/trump-says-us-is-taking-partial-control-of-venezuelas-vast-oil",
        "published": "2026-08-29T01:05:15.000Z"
      },
      {
        "outlet": "ABC News (US)",
        "title": "Trump announces 'historic' US-Venezuela oil deal that he says will lower gas prices",
        "url": "https://urgent.news/2026/08/29/trump-announces-historic-us-venezuela-oil-deal-that-he-says-will",
        "published": "2026-08-29T01:32:13.000Z"
      },
      {
        "outlet": "Kyiv Post",
        "title": "Trump Says US Secures Majority Control of 65 Billion Barrels of Venezuelan Oil",
        "url": "https://urgent.news/2026/08/29/trump-says-us-secures-majority-control-of-65-billion-barrels-of",
        "published": "2026-08-29T02:05:43.000Z"
      },
      {
        "outlet": "NPR",
        "title": "Trump says U.S. has entered deal with Venezuela to take control of 65 billion barrels of oil reserves",
        "url": "https://urgent.news/2026/08/29/trump-says-u-s-has-entered-deal-with-venezuela-to-take-control-of-65",
        "published": "2026-08-29T02:07:55.000Z"
      },
      {
        "outlet": "Sky News",
        "title": "Trump says US is taking partial control of Venezuela's vast oil reserves",
        "url": "https://urgent.news/2026/08/29/trump-says-us-is-taking-partial-control-of-venezuelas-vast-oil-4099792",
        "published": "2026-08-29T02:17:00.000Z"
      },
      {
        "outlet": "Dawn Business",
        "title": "Trump says US is taking partial control of Venezuela's vast oil reserves",
        "url": "https://urgent.news/2026/08/29/trump-says-us-is-taking-partial-control-of-venezuelas-vast-oil-4105205",
        "published": "2026-08-29T04:28:41.000Z"
      }
    ]
  },
  "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."
}