US Signs Historic Venezuela Oil Deal Giving America Majority Control of 65 BILLION Barrels — A Crushing Blow to Canadian Energy and PM Carney’s Oil Sands Legacy
President Trump secures majority U.S. control over 65 billion barrels of Venezuelan oil as Canada threatens its largest customer and squanders its energy advantage.
On Friday night, Trump announced what he called “THE BIGGEST OIL DEAL IN WORLD HISTORY.”
The United States has secured majority control of more than 65 billion barrels of proven Venezuelan oil reserves through a partnership with private business, at no cost to the American taxpayer.
Secretary of State Marco Rubio and Secretary of War Pete Hegseth negotiated the agreement with Venezuela’s interim President Delcy Rodríguez.
The deal covers 17 strategic fields, targets production of more than 1.5 million barrels per day, and is structured as a long-term arrangement (Venezuela says 25 years; other reports cite 100-year development rights).
Rodríguez called it historic and said it could generate roughly $209 billion in revenue for Venezuela while drawing more than $100 billion in private investment.
Trump posted that the transaction “MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future.”
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