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NewsTelemundo 51 Miami – Noticias LocalesAugust 28, 2026Miami-Dade

Trump and Venezuelan President Rodríguez announce oil agreement for U.S. access to 65 billion barrels

President Donald Trump and Venezuelan President Delcy Rodríguez have announced a bilateral agreement granting the United States majority control over 65 billion barrels of Venezuelan oil reserves. The deal includes $100 billion in private investment for the development of 17 strategic oil fields and aims to increase U.S. oil supply while supporting Venezuela's economic recovery.

energyforeign policyoil and gasinternational relationseconomy
Read the full story at Telemundo 51 Miami – Noticias Locales

Why It Matters

This agreement significantly alters U.S. energy supply chains and Venezuelan economic policy by formalizing a partnership that involves $100 billion in private investment and the development of 17 major oil fields.

Key Facts

  • The agreement grants the U.S. majority control over 65 billion barrels of Venezuelan oil reserves.
  • The deal involves $100 billion in private investment for the development of 17 strategic oil fields.
  • The project is expected to generate over $209 billion in tax revenue for the Venezuelan state.
  • Venezuela's current oil production is 1.23 million barrels per day, the highest level since February 2019.
  • Diplomatic relations between the U.S. and Venezuela were formally re-established in March 2026.
  • The agreement aims to lower U.S. gasoline prices and increase global energy security.
  • The deal follows the capture of Nicolás Maduro by U.S. forces on January 3, 2026.
  • The agreement is intended to support the reconstruction of Venezuela's oil infrastructure.

Who's Mentioned

personMarco Rubio“Secretary of State”personDelcy Rodríguez“President of Venezuela”personNicolás Maduro“Former leader captured by U.S. forces”personPete Hegseth“Secretary of Defense”personDonald Trump“President of the United States”