Trump Unveils Deal for US Access to Venezuela's Vast Oil Reserves

US President Donald Trump has announced a deal that gives America access to Venezuela's vast oil reserves, calling it 'THE BIGGEST OIL DEAL IN WORLD HISTORY'. The agreement was negotiated by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth.

The new company, North America Blue Energy Partners (NABEP), will have rights to untapped oil fields for 100 years. NABEP is owned by Alejandro Betancourt, who currently produces about 200,000 barrels a day, making it the second-largest private operator in Venezuela behind Chevron.

The deal gives the Pentagon a 35% ownership stake in the company and allows the State Department to purchase 20% of the output at cost. American purchases will go toward the US strategic oil reserves along with the military.