{
  "id": 4208922,
  "title": "Trump announces deal for huge US stake in Venezuelan oil reserves",
  "url": "https://urgent.news/2026/08/29/trump-announces-deal-for-huge-us-stake-in-venezuelan-oil-reserves-4208922",
  "topic": "world",
  "section": "World",
  "published": "2026-08-29T14:22:14.000Z",
  "source": {
    "name": "The Jakarta Post",
    "slug": "the-jakarta-post",
    "url": "https://www.thejakartapost.com/business/2026/08/29/trump-announces-deal-for-huge-us-stake-in-venezuelan-oil-reserves.html"
  },
  "original_language": "en",
  "account": "U.S. President Donald Trump announced a significant oil deal with Venezuela on Friday, granting the United States majority control of 65 billion barrels of proven petroleum reserves. The agreement, deemed the largest oil deal in world history, is expected to inject nearly $100 billion in private investment into Venezuela, according to U.S. and Venezuelan officials. Venezuela possesses the world's largest proven oil reserves, and the country has been under intense scrutiny from the Trump administration since the ousting of President Nicolas Maduro in January. Maduro's vice president, Delcy Rodriguez, has served as interim leader under U.S. conditions. Trump's announcement on his social media platform highlights the deal's potential to more than double U.S. oil reserves, benefiting both nations. Interim leader Rodriguez described the agreement as a historic deal with significant implications for Venezuela's economic rebirth. The U.S. Secretary of State Marco Rubio and Defense Secretary Pete Hegseth reached the deal through a partnership with private business. Trump emphasized that the transaction would bolster the already strong relationship between the two countries. Rubio stated that the deal would bring nearly $100 billion in private investment, create thousands of high-paying jobs, and aid in Venezuela's economic reconstruction. However, questions remain regarding the specifics of the transfer of oil assets, with some experts unsure whether it will be a sale, title transfer, or contingent upon production. The deal involves a dozen productive oil fields with 90 billion barrels of proven reserves, roughly one-third of Venezuela's total, according to Axios. In exchange for a U.S. ownership stake, private companies, including American firms, would develop the fields and return more oil revenue to Venezuela. The deal aims to address concerns about gasoline prices and the U.S. strategic petroleum reserve, which is at a 40-year low. High fuel costs have become a major political issue for Trump ahead of the 2022 midterm elections. While some U.S. oil companies have expressed interest in investing in Venezuela, they remain cautious due to the country's deteriorating infrastructure and historical issues with foreign investors. Chevron, the only U.S. oil company still operating in Venezuela when Maduro was ousted, has increased its daily crude production to 280,000 barrels and plans to boost output by 50% by the end of 2028. Energy expert John Kilduff cautioned that the primary challenge for companies operating in Venezuela lies in the safety and security of their investments. If the U.S. takes ownership of the oil fields, the goal would be to establish a secure \"state zone\" where U.S. companies can operate without facing the usual political risks.",
  "summary": "President Donald Trump said Friday his administration has reached a huge oil deal with Venezuela that gives the United States majority control of 65 billion barrels of proven petroleum reserves.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "New Straits Times",
        "title": "Trump announces deal for huge US stake in Venezuelan oil reserves",
        "url": "https://urgent.news/2026/08/29/trump-announces-deal-for-huge-us-stake-in-venezuelan-oil-reserves-4084928",
        "published": "2026-08-29T02:11:06.000Z"
      },
      {
        "outlet": "Gulf News",
        "title": "Trump announces deal for huge US stake in Venezuelan oil reserves",
        "url": "https://urgent.news/2026/08/29/trump-announces-deal-for-huge-us-stake-in-venezuelan-oil-reserves-4104848",
        "published": "2026-08-29T04:12:02.000Z"
      },
      {
        "outlet": "Daily Times",
        "title": "US announces major deal for Venezuelan oil reserves",
        "url": "https://urgent.news/2026/08/29/us-announces-major-deal-for-venezuelan-oil-reserves",
        "published": "2026-08-29T05:18:44.000Z"
      },
      {
        "outlet": "Le Monde English",
        "title": "Trump announces US takeover of Venezuelan oil",
        "url": "https://urgent.news/2026/08/29/trump-announces-us-takeover-of-venezuelan-oil",
        "published": "2026-08-29T09:30:05.000Z"
      }
    ]
  },
  "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."
}