{
  "id": 4125186,
  "title": "Trump unveils sweeping US stake in Venezuelan oil",
  "url": "https://urgent.news/2026/08/29/trump-unveils-sweeping-us-stake-in-venezuelan-oil",
  "topic": "world",
  "section": "World",
  "published": "2026-08-29T04:35:39.000Z",
  "source": {
    "name": "Arabian Post",
    "slug": "arabian-post",
    "url": "https://thearabianpost.com/trump-unveils-sweeping-us-stake-in-venezuelan-oil/"
  },
  "original_language": "en",
  "account": "U.S. President Donald Trump announced a significant oil deal with Venezuela, granting majority control over over 65 billion barrels of the country's proven crude reserves to U.S. interests. The agreement, described as \"the biggest oil deal in world history\" by Trump, was negotiated by Secretary of State Marco Rubio and Secretary of War Pete Hegseth with Venezuela's interim President Delcy Rodríguez. The deal covers 17 strategic oilfields, representing roughly one-fifth of Venezuela's estimated 303 billion barrels of proven reserves. The oilfields include assets in the Orinoco Belt and around Lake Maracaibo, regions containing some of the country's most important petroleum resources. The deal is expected to involve over $100 billion in private investment and generate more than $209 billion in tax revenue over its lifespan. American companies are anticipated to take the lead in exploration, development, and production, though the specific identities and ownership structure have not been fully disclosed. Venezuela currently holds about 17% of the world's proven crude reserves but only produces roughly 1.25 million barrels a day, down from over 3 million barrels a day a decade ago. The agreement could help increase Venezuela's production, support economic recovery, and provide U.S. refiners with substantial quantities of heavy Venezuelan crude, which is well-suited for Gulf Coast refineries. However, several obstacles remain, including the need for extensive rehabilitation of Venezuela's oil infrastructure and the technically demanding and costly extraction and processing of heavy and extra-heavy crude.",
  "summary": "Arabian Post Staff -Dubai United States President Donald Trump has announced a landmark oil agreement with Venezuela that he says will give US interests majority control over more than 65 billion barrels of the country’s proven crude reserves, dramatically expanding Washington’s access to the world’s largest petroleum resource base. Trump described the agreement as the “biggest oil deal in world…",
  "key_points": [],
  "editors_take": null,
  "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."
}