The United States has secured majority control over more than 65 billion barrels of proved oil reserves in Venezuela, according to an announcement made by President Donald Trump on August 28, 2026.
Trump Announces Majority Control Over Venezuelan Oil Reserves
According to statements published by President Trump on Truth Social, the agreement provides the United States with majority control over roughly a fifth of Venezuela’s massive petroleum reserves. “America Serikat baru saja menyepakati perjanjian dengan Venezuela mengenai KESEPAKATAN MINYAK TERBESAR DALAM SEJARAH DUNIA!” Trump wrote, describing the arrangement as a historic transaction that will more than double American oil reserves. The White House stated that the deal was achieved without any cost to U.S. taxpayers, operating through public-private partnerships involving American oil companies.
The administration’s handling of the country stems from the military intervention in January 2026. Following the removal and arrest of Nicolas Maduro—who was subsequently transported to New York and booked into the Metropolitan Detention Center, facing court appearances—Washington permitted then-Vice President Delcy Rodriguez to remain in office as interim president. According to Trump, Rodriguez worked closely with U.S. officials, including Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, to finalize the petroleum agreement.
Marco Rubio Details Investment and Economic Impact for Caracas
Secretary of State Marco Rubio defended the arrangement as a mutual victory that guarantees a stable, low-cost fuel supply for domestic U.S. markets while lowering gasoline prices for consumers. For Venezuela, Rubio stated that the pact will unlock nearly US$ 100 miliar in private investment for Caracas, generate thousands of high-paying jobs, and help repair an economy battered by years of political turmoil and sanctions.
Negotiations between Washington and Venezuelan representatives spanned several weeks before the public announcement, granting long-term access for American firms to key oil fields. Officials in Caracas are reportedly preparing to sign definitive production and exploration contracts in the coming week. However, neither Trump’s initial statement nor subsequent briefings detailed the precise corporate entities involved, the financial structure of the agreements, or the specific geographic locations of the targeted oil fields.
Political Opposition and Temporary Governance Plans
The intervention and subsequent oil deals have drawn sharp backlash. Democratic lawmakers in Congress and international observers have condemned the strategy, comparing the unilateral actions to historical military interventions and warning of potential imperial overreach. Despite the arrests and U.S. assertions of temporary control, reporting from outlets like Republika notes that local administrative control remains complex on the ground in Caracas.
President Trump asserted during a press conference at Mar-a-Lago in Palm Beach, Florida, that the U.S. would maintain a direct hand in governance alongside interim leaders until a secure political transition can occur. “Kami akan menjalankan negara ini hingga kami dapat melakukan transisi yang aman, tepat, dan bijaksana,” Trump told reporters, adding that the administration is prepared to deploy additional security forces if necessary to protect infrastructure investments.
Did you know? Venezuela holds the largest proved crude oil reserves in the world, with estimates surpassing billions of barrels total, making the 65 miliar barel targeted by the U.S. agreement roughly one-fifth of the nation’s total underground wealth.
Frequently Asked Questions
What did President Trump announce regarding Venezuelan oil?
President Trump announced that the U.S. has secured majority control over 65 miliar barel of proved Venezuelan oil reserves through a bilateral agreement, which he called the largest oil deal in world history.
Who is leading Venezuela following the removal of Nicolas Maduro?
Following the military operation that detained Nicolas Maduro in January 2026, former Vice President Delcy Rodriguez remained in power as interim leader with Washington’s backing.
How much investment is expected to enter Venezuela under the deal?
According to U.S. Secretary of State Marco Rubio, the agreement is expected to bring nearly US$ 100 miliar in private investment to Caracas to help rebuild damaged energy infrastructure and create jobs.
Are the specific companies and financial terms public?
As of late August 2026, the administration has not publicly disclosed the exact corporate entities involved, the precise financial structures, or the specific locations of the oil fields covered by the agreement.
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