What we know about Trump's deal giving U.S. access to vast oil reserves in Venezuela

By: Collin Binkley, Associated Press · Juan Pablo Arraez, Associated Press

29 August 2026 at 22:44

The answers to questions such as how soon the reserves could be drilled and who will pay to make it happen were not immediately clear. No text of any agreement has been released.

Trump Says U.S. Struck Deal for Control of More Than 65 Billion Barrels of Venezuela’s Oil

NYT > Top Stories

By: Rebecca F. Elliott · Simon Romero and Edward Wong

29 August 2026 at 17:30

The president said an agreement between the countries covered more than 65 billion barrels of reserves. A U.S. official said it would involve a partnership with a private company.

An oil refinery in Punto Fijo, Venezuela, in 2021. Venezuela’s president, Delcy Rodríguez, said a U.S. oil deal would have a “significant impact on our nation’s revival.”

Trump says U.S. has entered deal with Venezuela to control 65 billion barrels of its oil reserves

PBS News Hour - The Latest

By: Aamer Madhani · Associated Press

29 August 2026 at 02:35

The announcement of the deal comes nearly nine months after the U.S. military at Trump's direction carried out an operation to capture Venezuela's president Nicolás Maduro and spirit him to the United States to face federal narcoterrorism and drug trafficking charges.

Trump announces new US oil agreement with Venezuela

World news | The Guardian

By: Guardian staff and agencies

29 August 2026 at 02:34

US president says US will have ‘majority’ control of 65bn barrels of proven oil reserves

Donald Trump announced Friday a new US oil agreement with Venezuela’s interim president Delcy Rodríguez, saying the US will have “majority” control of 65bn barrels of proven oil reserves.

The terms of the agreement remain to be seen, but the US president said on his social-media platform that it had been brokered “through a partnership with ⁠private business” by his secretary of state, Marco Rubio, and defense secretary, Pete Hegseth.