{
  "id": 4233148,
  "title": "What we know about Trump’s deal giving US access to vast oil reserves in Venezuela",
  "url": "https://urgent.news/2026/08/29/what-we-know-about-trumps-deal-giving-us-access-to-vast-oil-reserves-4233148",
  "topic": "world",
  "section": "World",
  "published": "2026-08-29T16:53:02.000Z",
  "source": {
    "name": "Associated Press",
    "slug": "associated-press",
    "url": "https://apnews.com/article/venezuela-oil-trump-deal-unknown-questions-reserves-c229bc39b6e1a3d5dd16f7f9e67fef3f"
  },
  "original_language": "en",
  "account": "On August 29, 2026, President Donald Trump announced what he called \"THE BIGGEST OIL DEAL IN WORLD HISTORY\" with Venezuela. The deal involves the United States gaining a stake in Venezuela's vast oil reserves, a move that aligns with Trump's aim of extracting energy from the country after capturing then-President Nicolás Maduro in January. Maduro was then taken to New York to face federal drug trafficking charges.\n\nVenezuela's acting president, Delcy Rodríguez, described the deal as a step toward economic recovery and modernizing the country's oil industry. However, many details about the agreement remain unclear, with no text released and questions remaining about when drilling could begin and who would cover the costs.\n\nThe agreement involves a new private company formed by the U.S. government and an unnamed Venezuelan operator, which has been granted rights to 17 untapped oil fields for 100 years. The development of these fields, with a proven potential of 65 billion barrels, could attract $100 billion in investment and generate over $209 billion in taxes for Venezuela.\n\nThe U.S. will have 55% effective output from the new private company, including ownership stakes and rights to purchase oil at cost. This oil will be used to bolster the U.S. strategic oil reserves and support military operations. The new company would rank second among corporate holders of proven oil reserves, just behind Saudi Aramco. The terms of the deal were reportedly negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Rodríguez.",
  "summary": "WASHINGTON (AP) — Besides a social media post from President Donald Trump , the White House has said little about what he is calling “THE BIGGEST OIL DEAL IN WORLD HISTORY” in Venezuela . Trump said the agreement announced Friday night would give the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 11,
    "also_reported_by": [
      {
        "outlet": "Malay Mail",
        "title": "Trump says US clinches ‘biggest oil deal in world history’ with Venezuela worth nearly US$100b",
        "url": "https://urgent.news/2026/08/29/trump-says-us-clinches-biggest-oil-deal-in-world-history-with",
        "published": "2026-08-29T00:49:21.000Z"
      },
      {
        "outlet": "NDTV",
        "title": "Trump Announces \"Biggest Oil Deal In World History\" With Venezuela",
        "url": "https://urgent.news/2026/08/29/trump-announces-biggest-oil-deal-in-world-history-with-venezuela",
        "published": "2026-08-29T01:17:31.000Z"
      },
      {
        "outlet": "Al Jazeera",
        "title": "Trump announces ‘biggest oil deal in world history’ with Venezuela",
        "url": "https://urgent.news/2026/08/29/trump-announces-biggest-oil-deal-in-world-history-with-venezuela-4087846",
        "published": "2026-08-29T02:32:51.000Z"
      },
      {
        "outlet": "The Island Sri Lanka",
        "title": "Trump announces ‘biggest oil deal in world history’ with Venezuela",
        "url": "https://urgent.news/2026/08/29/trump-announces-biggest-oil-deal-in-world-history-with-venezuela-4093714",
        "published": "2026-08-29T03:00:50.000Z"
      },
      {
        "outlet": "Daily Times",
        "title": "Trump announces expanded US role in Venezuela’s oil sector",
        "url": "https://urgent.news/2026/08/29/trump-announces-expanded-us-role-in-venezuelas-oil-sector",
        "published": "2026-08-29T04:56:57.000Z"
      },
      {
        "outlet": "Ajel English",
        "title": "Trump announces US gains control of major share of Venezuela's oil reserves",
        "url": "https://urgent.news/2026/08/29/trump-announces-us-gains-control-of-major-share-of-venezuelas-oil",
        "published": "2026-08-29T06:19:13.000Z"
      },
      {
        "outlet": "New Voice of Ukraine",
        "title": "Trump announces 'biggest oil deal in world history' with Venezuela",
        "url": "https://urgent.news/2026/08/29/trump-announces-biggest-oil-deal-in-world-history-with-venezuela-4206302",
        "published": "2026-08-29T13:57:00.000Z"
      },
      {
        "outlet": "Global News",
        "title": "Trump says U.S. to take control of 65B barrels of Venezuela oil reserves in new deal",
        "url": "https://urgent.news/2026/08/29/trump-says-u-s-to-take-control-of-65b-barrels-of-venezuela-oil",
        "published": "2026-08-29T15:50:26.000Z"
      },
      {
        "outlet": "Winnipeg Free Press",
        "title": "What we know about Trump’s deal giving US access to vast oil reserves in Venezuela",
        "url": "https://urgent.news/2026/08/29/what-we-know-about-trumps-deal-giving-us-access-to-vast-oil-reserves",
        "published": "2026-08-29T16:23:12.000Z"
      },
      {
        "outlet": "El Pais",
        "title": "El acuerdo por el que Delcy Rodríguez cede a Trump el 22% de las reservas petroleras de Venezuela desata una avalancha de críticas",
        "url": "https://urgent.news/2026/08/29/el-acuerdo-por-el-que-delcy-rodriguez-cede-a-trump-el-22-de-las",
        "published": "2026-08-29T17:57:12.000Z"
      }
    ]
  },
  "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."
}