Trump Unveils $140 Billion Deal to Tap Venezuela's Oil Reserves

US President Donald Trump has announced an unprecedented deal to take control of Venezuela's oil reserves. The agreement, made through his social media platform Truth Social, calls for the US to gain access to 65 billion barrels of Venezuelan oil, doubling America's oil reserves and increasing its supply.

The plan involves developing 17 strategic oil fields with proven potential for $US100 billion ($140 billion) in investment. It's expected to yield more than $US209 billion in tax revenue for Venezuela.

However, the deal is still an idea rather than a reality. To become a tangible agreement, it requires significant investment from American oil companies, which have thus far been hesitant to participate.

Chevron, the second-largest US oil firm and the only one with a sizeable presence in Venezuela, is reportedly in talks to expand its operations as part of this deal.