Trump Secures US Stake in Venezuela's Massive Oil Reserves

The United States has secured access to Venezuela's vast oil reserves through a deal announced by President Donald Trump. The agreement, touted as 'THE BIGGEST OIL DEAL IN WORLD HISTORY,' grants the US a stake in 17 untapped oil fields with a proven potential of 65 billion barrels.

The new company formed between the US government and an unnamed private operator will have rights to these fields for 100 years. Trump said the deal was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuela's acting president Delcy Rodríguez.

Under the terms of the agreement, the US will receive 55% effective output of the company, including an ownership stake and rights to buy oil at cost. The US purchases of the oil will go toward the country's strategic oil reserves along with the military.

The deal has been met with both praise and criticism. Some see it as a way to modernize Venezuela's oil industry and bring in $100 billion in investment, while others have expressed concerns about the legitimacy of the agreement and the potential for corruption.