Trump Announces U.S. Push for Control of Venezuela Oil Reserves
President Donald Trump has announced a major Venezuela oil deal that would give the United States a significant role in developing more than 65 billion barrels of Venezuelan oil reserves through a new partnership with private companies.
According to a report by EnergyNow, the agreement could attract nearly $100 billion in investment, revive Venezuela's damaged oil industry and eventually increase crude supplies available to U.S. refiners. Reuters and AP separately reported that the arrangement would give the United States an effective 55% share of output from a new private company tied to 17 oil fields, although many details remain unresolved.
What Happened
Trump announced the agreement on August 28, saying his administration had secured majority U.S. control of more than 65 billi...



















