Trump secures rights to Venezuela's oil fields for 100 YEARS in deal he calls biggest in world history
Marco Rubio's State Department also cited revocations tied to online posts celebrating violence, including one user who wrote that conservative activist Charlie Kirk "died too late.Venezuela holds the world's largest proven crude reserves — estimated at 303 billion barrels — with the deal spanning 17 strategic oilfields and projected to deliver $209 billion in taxes to the Venezuelan state.
A newly formed private company, established under the US-Venezuela agreement, has been granted rights to 17 undeveloped oil fields for 100 years, covering 65 billion barrels of proven reserves. Trump, who assigned Secretary of State Marco Rubio and Defence Secretary Pete Hegseth to negotiate the deal, says it will more than double American oil reserves and push petrol prices lower. Delcy Rodríguez, Venezuela's interim President, who took office after US forces detained Nicolás Maduro in January, calls it "historic" and says it will bring Venezuela's damaged energy sector into the modern era. Analysts warn that relief at the pump will not arrive quickly, since bringing the fields to full production will require extensive infrastructure investment over many years and cost billions.
The US holds a 55% effective stake in the new venture's output, with the right to purchase Venezuelan crude at cost for its strategic reserves and military.
María Elvira Salazar, Florida Republican Rep., deleted a post attacking the deal before walking her criticism back, though she maintained it should only stand if Venezuela holds free elections.
Oil trader Phil Flynn called it a 'generational win' that could deliver a generation of lower prices for American families.
