Trump says US gains majority stake in Venezuela's 65 billion barrels of oil reserves

WASHINGTON, United States — WASHINGTON — President Donald Trump announced that the United States has obtained a majority and controlling share, in partnership with the private sector, in more than 65 billion barrels of proven Venezuelan oil reserves. In a post on Truth Social, Trump said the deal would allow American companies to help revive Venezuela's deteriorating energy sector through long-term access to oil fields, with crude expected to be shipped to the United States. Trump stressed that the agreement would not impose any financial burden on American taxpayers. Secretary of State Marco Rubio and Defense Secretary Pete Hegseth worked closely with Venezuelan acting President Delcy Rodríguez during the negotiations, according to the announcement. Venezuela, an OPEC member, holds one of the world's largest proven oil reserves. The agreement was framed as part of broader negotiations aimed at stabilizing the country's oil industry after years of decline, though no further details on specific companies or timelines were immediately available.