Trump Hails Major US-Venezuela Oil Deal as Historic Agreement

WASHINGTON:  (News Desk) – The United States and Venezuela have reportedly reached a major oil agreement, with US President Donald Trump describing it as one of the largest oil deals in history.

According to Trump, the agreement would give the United States access to Venezuela’s vast proven oil reserves, estimated at around 65 billion barrels. He said the arrangement could help lower oil and gas prices for American consumers.

The agreement was reportedly negotiated by US Secretary of State Marco Rubio and Secretary of Defense Pat Hegseth in cooperation with Venezuela’s interim government and private-sector companies.

US officials estimate that the deal could attract around $100 billion in private investment into Venezuela’s economy. They also say it could significantly strengthen US strategic oil reserves.

Venezuela’s interim leader Delcy Rodríguez has also backed the agreement, describing it as an important step toward the country’s economic recovery.

In a social media statement, Rodríguez said the arrangement could potentially generate more than $209 billion in tax revenue for the Venezuelan government, providing much-needed resources for the country’s struggling economy.

Experts Raise Questions

Despite the ambitious claims surrounding the agreement, energy experts have raised questions about how the proposed transfer of Venezuelan oil assets would actually work.

Jorge Piñón, a senior researcher at the University of Texas Energy Institute, said important details remain unclear, including whether the arrangement represents an outright purchase, a transfer of ownership or another form of control over the oil assets.

The uncertainty comes as Venezuela’s energy sector faces years of underinvestment and deteriorating infrastructure. Analysts say a major objective of the agreement could be to create a more secure operating environment for US energy companies while helping modernise Venezuela’s ageing oil infrastructure.

The reported agreement also comes amid significant political and economic changes in Venezuela following the fall of Nicolás Maduro’s government in January and increased US involvement in the country.

If implemented as described, the deal could reshape Venezuela’s oil industry while deepening economic ties between Washington and Caracas. However, the exact legal structure, ownership arrangements and implementation mechanism remain key questions surrounding the agreement.