Washington, Aug. 29 (SANA) US President Donald Trump announced the conclusion of an oil agreement with Venezuela that grants the United States control over more than 65 billion barrels of the country’s proven oil reserves, describing the agreement as the “largest oil deal in world history.”
In a post on the Truth Social platform on Saturday, Trump stated that the agreement would increase more than double US oil reserves, noting that Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth had reached the deal with Venezuelan Acting President Delcy Rodríguez through a partnership with the private sector.
For his part, Rubio expected that the agreement would attract approximately $100 billion in private investment to Venezuela. Meanwhile, reports indicated that US companies would participate in developing the oil fields in exchange for an equity stake, thereby enabling Caracas to boost its oil revenues.
Venezuela possesses the world’s largest proven oil reserves, estimated at approximately 300 billion barrels, according to available data.
I.Z/MZ
