Trump Announces Major Oil Agreement with Interim Venezuelan Government

President Donald Trump announced a historic agreement on Friday that grants the United States majority control over more than 65 billion barrels of proven oil reserves in Venezuela. The deal involves the development of 17 strategic oil fields and is expected to attract over 100 billion dollars in private investment. Interim Venezuelan President Delcy Rodriguez, who took power after U.S. forces captured former President Nicolas Maduro on January 3, confirmed the pact and stated it would revitalize the country's economy and infrastructure. Trump described the transaction as the largest oil deal in world history, claiming it would more than double U.S. oil reserves and lower gasoline prices for Americans. He also stated he intends to use the oil to refill the National Strategic Reserves, calling the move a gift to the American people.

Details regarding the operational structure remain limited, but reports indicate the U.S. will work with private companies, including the North American Blue Energy Partners led by businessman Alejandro Betancourt. The Pentagon's Strategic Capital Office is expected to support the development. Rodriguez claimed the agreement preserves Venezuelan sovereignty and could generate over 200 billion dollars in revenue for the state, with approximately 19 dollars per barrel going directly to Venezuela. The deal aims to increase production to 1.5 million barrels per day, though analysts suggest significant production increases may take several years.

The agreement has faced widespread criticism from across the political spectrum in Venezuela. Some opposition members expressed concerns over the lack of transparency and the legality of the deal under the Constitution, fearing that the Trump administration may be less likely to press for elections if it relies on Rodriguez to maintain the agreement. Hardline supporters of Chavismo and left wing groups have denounced the deal as a betrayal of national sovereignty and a plunder of resources, with some calling for the removal of U.S. influence from the country. Meanwhile, the governing United Socialist Party of Venezuela reaffirmed its support for the recovery mechanisms.