{
  "id": 4111664,
  "title": "Trump says US is taking partial control of Venezuela's vast oil reserves, but offers few details about agreement",
  "url": "https://urgent.news/2026/08/29/trump-says-us-is-taking-partial-control-of-venezuelas-vast-oil-4111664",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-29T04:50:03.000Z",
  "source": {
    "name": "Dawn Business",
    "slug": "dawn-business",
    "url": "https://www.dawn.com/news/2025926/trump-says-us-is-taking-partial-control-of-venezuelas-vast-oil-reserves-but-offers-few-details-about-agreement"
  },
  "original_language": "en",
  "account": "President Donald Trump announced on Friday an unprecedented plan to take control of a fifth of Venezuela's vast oil reserves, aiming to revitalize the Opec nation's struggling energy sector and provide a new source of crude to help reduce US fuel prices. Trump disclosed minimal details about the agreement, stating that the US has gained majority control over more than 65 billion barrels of Venezuela's proven oil reserves through a partnership with private business. Venezuela's leader, Delcy Rodriguez, welcomed the deal, claiming it would stimulate the economy and government revenue. The agreement would represent a significant expansion of the US's role in Venezuela's oil industry, given the country's potential to produce over 1.25 million barrels of oil per day, which has been hindered by years of underinvestment, mismanagement, and sanctions. Trump credited Secretary of State Marco Rubio and Secretary of War Pete Hegseth for working closely with Rodriguez to secure the majority control of the reserves, without disclosing the specific structure of the deal, the fields or companies involved, or how the US would exercise majority control. Analysts expressed uncertainty about the legal and financial aspects of the agreement, as well as its potential impact on gasoline prices in the short term, given the time needed to develop the infrastructure for producing, transporting, and refining Venezuela's heavy crude.",
  "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."
}