Trump announced that an oil agreement covering 17 strategic fields had been signed with Venezuela. He noted that U.S. Secretary of State Marco Rubio and Defense Secretary Pete Hegseth had been working closely with Venezuela's interim President Delcy Rodriguez on the agreement.
Trump said a partnership with the private sector had secured control over a large share of Venezuela's oil reserves, which exceed 65 billion barrels. He argued that the agreement would more than double U.S. oil reserves and significantly strengthen the country's oil supply.
Venezuela confirms the agreement
Delcy Rodriguez confirmed that an oil agreement had been reached with the United States and said it marked a historic turning point in relations between the two countries. Rodriguez said the goal was to significantly increase oil production with the participation of private-sector representatives.
According to Rodriguez, the agreement envisages the development of 17 strategic fields with a proven potential of 65 billion barrels. More than $100 billion in investment is expected under the agreement, along with over $209 billion in tax revenue for the Venezuelan state.
Rodriguez said the agreement would provide a significant flow of investment to renew and rebuild the strategic infrastructure of Venezuela's hydrocarbon industry. She said these investments would contribute not only to the modernization of the industry but also to economic growth, the region's energy security and greater balance in international markets.