WASHINGTON: The United States now has majority control over 65 billion barrels of known petroleum reserves thanks to a massive oil deal that President Donald Trump announced on Friday with Venezuela. According to US and Venezuelan authorities, the agreement, which Trump called “the biggest oil deal in world history, will provide Venezuela with around $100 billion in private investment.
Venezuela has the greatest proven oil reserves in the world. Since the US overthrew and imprisoned longtime leader Nicolas Maduro in January, the Trump administration has put tremendous pressure on and closely monitored its regime. Delcy Rodriguez, Washington’s vise president, was permitted to remain and act as temporary leader as long as she adhered to US policy.
In his post announcing the transaction on his Truth Social platform, Trump stated that it will more than triple US oil reserves. He has never concealed his goal to get Venezuelan oil for the United States. What she described as a “historic agreement” that will “have a significant impact on the rebirth of our nation” was verified by interim leader Rodriguez.
She praised a possible investment of “more than $100 billion and more than $209 billion in tax revenue for the State” in a social media post. According to Trump, the agreement with Rodriguez was made “through a partnership with private business” by Secretary of State Marco Rubio and Defence Secretary Pete Hegseth.
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