What we know about Trump’s deal giving US access to vast oil reserves in Venezuela - AP News
President Donald Trump announced a deal to grant the United States access to Venezuela's vast oil reserves, calling it 'THE BIGGEST OIL DEAL IN WORLD HISTORY.' Details remain scarce, but it reportedly involves a new US-Venezuelan company gaining rights to untapped oil fields for 100 years, following the capture of former President Nicolás Maduro.
Why it matters
This deal could significantly reshape global energy markets and US-Venezuela relations, potentially impacting Venezuela's economic recovery and the geopolitical balance of power. However, the lack of transparency raises critical questions about its terms, feasibility, and long-term implications.
Add AP News as your preferred source to see more of our stories on Google. --> Share
WASHINGTON (AP) — Besides a social media post from President Donald Trump , the White House has said little about what he is calling “THE BIGGEST OIL DEAL IN WORLD HISTORY” in Venezuela .
Trump said the agreement announced Friday night would give the United States a stake in Venezuela’s vast oil reserves , a step toward his goal of extracting energy from the country after American forces captured then-President Nicolás Maduro in a middle-of-the-night raid in January and brought him to New York to face federal drug trafficking charges .
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in