{"id":1766,"date":"2026-08-31T11:09:18","date_gmt":"2026-08-31T11:09:18","guid":{"rendered":"https:\/\/urbaneconomynews.com\/?p=1766"},"modified":"2026-08-31T11:09:18","modified_gmt":"2026-08-31T11:09:18","slug":"trump-announces-historic-venezuela-oil-deal-giving-u-s-control-of-65-billion-barrels","status":"publish","type":"post","link":"https:\/\/urbaneconomynews.com\/?p=1766","title":{"rendered":"Trump Announces Historic Venezuela Oil Deal Giving U.S. Control of 65 Billion Barrels"},"content":{"rendered":"
\n

President Donald Trump announced a sweeping agreement with Venezuela that will give the United States control over more than 65 billion barrels of proven oil reserves, potentially more than doubling American reserves and strengthening U.S. energy security.<\/p>\n

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Trump said the agreement would \u201csubstantially lower Gas Prices for all Americans,\u201d as the Iran war has disrupted global energy supplies and pushed fuel prices higher.<\/p>\n

Under the agreement, the U.S. government will hold a 55 percent controlling interest in a joint venture with an experienced private operator in Venezuela, a U.S. official told CBS News. Venezuelan interim President Delcy Rodr\u00edguez has granted the venture a 100-year concession to operate 17 strategic oil fields.<\/p>\n

Rodr\u00edguez said the agreement would remain in force for 25 years and target an increase in Venezuelan production to 1.5 million barrels per day.<\/p>\n

The deal calls for more than $100 billion in private investment and could generate more than $209 billion in taxes for Venezuela, according to Rodr\u00edguez.<\/p>\n

Secretary of State Marco Rubio called the agreement \u201ca huge win for both the American and Venezuelan people.\u201d<\/p>\n

\u201cFor the Venezuelan people, this deal will bring nearly $100bn in private investment, support thousands of high-paying jobs and drive the reconstruction of Venezuela\u2019s economy,\u201d Rubio said.<\/p>\n

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Trump said Rubio and Defense Secretary Pete Hegseth negotiated the agreement with Venezuelan leaders through a partnership with private businesses. He said the arrangement would come \u201cat no cost to the American Taxpayer.\u201d<\/p>\n

Venezuela holds an estimated 303 billion barrels of proven oil reserves, the world\u2019s largest, but years of socialist mismanagement, deteriorating infrastructure and U.S. sanctions have left production far below its late-1990s peak.<\/p>\n

The agreement follows the January capture of former Venezuelan President Nicol\u00e1s Maduro, who was brought to the United States to face federal drug charges.<\/p>\n

Questions remain about how quickly the deal could affect American consumers. Venezuela\u2019s heavy crude requires specialized refining, while rebuilding the country\u2019s deteriorated oil infrastructure could take years.<\/p>\n

The agreement\u2019s full text has also not been released, prompting questions about its legal status under Venezuelan law.<\/p>\n

Read more Three Rings, One Tent, No Ringmaster<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

President Donald Trump announced a sweeping agreement with Venezuela that will give the United States control over more than 65 billion barrels of proven oil\u2026<\/p>\n","protected":false},"author":1,"featured_media":1765,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-1766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nTrump Announces Historic Venezuela Oil Deal Giving U.S. Control of 65 Billion Barrels - Urban Economy news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/urbaneconomynews.com\/?p=1766\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump Announces Historic Venezuela Oil Deal Giving U.S. Control of 65 Billion Barrels - Urban Economy news\" \/>\n<meta property=\"og:description\" content=\"President Donald Trump announced a sweeping agreement with Venezuela that will give the United States control over more than 65 billion barrels of proven oil\u2026\" \/>\n<meta property=\"og:url\" content=\"https:\/\/urbaneconomynews.com\/?p=1766\" \/>\n<meta property=\"og:site_name\" content=\"Urban Economy news\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-31T11:09:18+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/urbaneconomynews.com\\\/?p=1766#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/urbaneconomynews.com\\\/?p=1766\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/urbaneconomynews.com\\\/#\\\/schema\\\/person\\\/be7753cb687f443815cc81e8407f68ad\"},\"headline\":\"Trump Announces Historic Venezuela Oil Deal Giving U.S. Control of 65 Billion Barrels\",\"datePublished\":\"2026-08-31T11:09:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/urbaneconomynews.com\\\/?p=1766\"},\"wordCount\":397,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/urbaneconomynews.com\\\/?p=1766#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/urbaneconomynews.com\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/971824bb8e6ea687bef0de1ab86fa030-scaled.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/urbaneconomynews.com\\\/?p=1766#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/urbaneconomynews.com\\\/?p=1766\",\"url\":\"https:\\\/\\\/urbaneconomynews.com\\\/?p=1766\",\"name\":\"Trump Announces Historic Venezuela Oil Deal Giving U.S. Control of 65 Billion Barrels - Urban Economy news\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/urbaneconomynews.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/urbaneconomynews.com\\\/?p=1766#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/urbaneconomynews.com\\\/?p=1766#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/urbaneconomynews.com\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/971824bb8e6ea687bef0de1ab86fa030-scaled.jpg\",\"datePublished\":\"2026-08-31T11:09:18+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/urbaneconomynews.com\\\/#\\\/schema\\\/person\\\/be7753cb687f443815cc81e8407f68ad\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/urbaneconomynews.com\\\/?p=1766#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/urbaneconomynews.com\\\/?p=1766\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/urbaneconomynews.com\\\/?p=1766#primaryimage\",\"url\":\"https:\\\/\\\/urbaneconomynews.com\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/971824bb8e6ea687bef0de1ab86fa030-scaled.jpg\",\"contentUrl\":\"https:\\\/\\\/urbaneconomynews.com\\\/wp-content\\\/uploads\\\/2026\\\/08\\\/971824bb8e6ea687bef0de1ab86fa030-scaled.jpg\",\"width\":2560,\"height\":1400,\"caption\":\"CARACAS, VENEZUELA - AUGUST 29: A view of daily life as US President Trump and Venezuelan interim President Rodriguez announced an agreement that would grant the United States majority control over 17 oil fields and more than 65 billion barrels of Venezuela's proven oil reserves, in Caracas, Venezuela on August 29, 2026. 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