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Trump says US has a deal to take huge stake in Venezuela oil reserves
POLITICO · 2026-08-28
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10.8137 1.5 7.5C1.5 4.18629 4.18629 1.5 7.5 1.5ZM7.5 3C5.01472 3 3 5.01472 3 7.5C3 9.98528
5.01472 12 7.5 12C9.98528 12 12 9.98528 12 7.5C12 5.01472 9.98528 3 7.5 3Z" /></g></g></svg></button><!--]--></div><!----></div></form></div><div class="flex flex-col flex-wrap duration-[.35s] ease-in-out sm:flex-row sm:gap-y-5 sm:p-[1.875rem] lg:px-[1.875rem] lg:pb-[1.875rem] lg:pt-[3rem]"><!--[--><div class="sm:w-1/2 sm:space-y-[30px] md:w-1/3 lg:w-1/6" data-testid="hamburger-column"><!--[--><section class="!border-0 border-divide-gray-35 flex flex-col border-t sm:border-0"><h2 aria-expanded="false" tabindex="-1" class="flex cursor-pointer items-center justify-between whitespace-nowrap p-4 text-[length:var(--dimension-typescale-label-m)] font-bold leading-none transition-all duration-[250ms] ease-in-out sm:mb-2 sm:cursor-auto sm:p-0">WASHINGTON & POLITICS <!----></h2><span id="section-0-0-summary" class="sr-only">WASHINGTON & POLITICS 6 items</span><ul class="max-h-0 overflow-hidden transition-max-height duration-[250ms] ease-in-out sm:max-h-[100rem] sm:overflow-visible" role="group"><!--[--><li class="my-2 sm:border-0"><span id="section-0-0-item-0-ordinal" class="sr-only">1st item</span><a href="https://www.politico.com/congress-news-updates-analysis" id="section-0-0-item-0" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-0-0-summary section-0-0-item-0-ordinal section-0-0-item-0">Congress</a></li><li class="my-2 sm:border-0"><span id="section-0-0-item-1-ordinal" class="sr-only">2nd item</span><a href="https://www.politico.com/white-house-news-updates-analysis" id="section-0-0-item-1" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-0-0-summary section-0-0-item-1-ordinal section-0-0-item-1">White House</a></li><li class="my-2 sm:border-0"><span id="section-0-0-item-2-ordinal" class="sr-only">3rd item</span><a href="https://www.politico.com/supreme-court-legal-news-updates-analysis" id="section-0-0-item-2" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-0-0-summary section-0-0-item-2-ordinal section-0-0-item-2">Supreme Court and Legal Issues</a></li><li class="my-2 sm:border-0"><span id="section-0-0-item-3-ordinal" class="sr-only">4th item</span><a href="https://www.politico.com/magazine" id="section-0-0-item-3" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-0-0-summary section-0-0-item-3-ordinal section-0-0-item-3">Magazine</a></li><li class="my-2 sm:border-0"><span id="section-0-0-item-4-ordinal" class="sr-only">5th item</span><a href="https://www.politico.com/2026-elections" id="section-0-0-item-4" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-0-0-summary section-0-0-item-4-ordinal section-0-0-item-4">2026 Elections</a></li><li class="my-2 sm:border-0"><span id="section-0-0-item-5-ordinal" class="sr-only">6th item</span><a href="https://www.politico.com/politics" id="section-0-0-item-5" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-0-0-summary section-0-0-item-5-ordinal section-0-0-item-5">Latest on POLITICO</a></li><!--]--></ul></section><!--]--></div><div class="sm:w-1/2 sm:space-y-[30px] md:w-1/3 lg:w-1/6" data-testid="hamburger-column"><!--[--><section class="border-divide-gray-35 flex flex-col border-t sm:border-0"><h2 aria-expanded="false" tabindex="-1" class="flex cursor-pointer items-center justify-between whitespace-nowrap p-4 text-[length:var(--dimension-typescale-label-m)] font-bold leading-none transition-all duration-[250ms] ease-in-out sm:mb-2 sm:cursor-auto sm:p-0">STATE POLITICS & POLICY <!----></h2><span id="section-1-0-summary" class="sr-only">STATE POLITICS & POLICY 4 items</span><ul class="max-h-0 overflow-hidden transition-max-height duration-[250ms] ease-in-out sm:max-h-[100rem] sm:overflow-visible" role="group"><!--[--><li class="my-2 sm:border-0"><span id="section-1-0-item-0-ordinal" class="sr-only">1st item</span><a href="https://www.politico.com/news/california" id="section-1-0-item-0" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-1-0-summary section-1-0-item-0-ordinal section-1-0-item-0">California</a></li><li class="my-2 sm:border-0"><span id="section-1-0-item-1-ordinal" class="sr-only">2nd item</span><a href="https://www.politico.com/florida-politics-news-analysis-updates" id="section-1-0-item-1" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-1-0-summary section-1-0-item-1-ordinal section-1-0-item-1">Florida</a></li><li class="my-2 sm:border-0"><span id="section-1-0-item-2-ordinal" class="sr-only">3rd item</span><a href="https://www.politico.com/new-jersey-politics-news-analysis-updates" id="section-1-0-item-2" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-1-0-summary section-1-0-item-2-ordinal section-1-0-item-2">New Jersey</a></li><li class="my-2 sm:border-0"><span id="section-1-0-item-3-ordinal" class="sr-only">4th item</span><a href="https://www.politico.com/news/new-york" id="section-1-0-item-3" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-1-0-summary section-1-0-item-3-ordinal section-1-0-item-3">New York</a></li><!--]--></ul></section><section class="border-divide-gray-35 flex flex-col border-t sm:border-0"><h2 aria-expanded="false" tabindex="-1" class="flex cursor-pointer items-center justify-between whitespace-nowrap p-4 text-[length:var(--dimension-typescale-label-m)] font-bold leading-none transition-all duration-[250ms] ease-in-out sm:mb-2 sm:cursor-auto sm:p-0">GLOBAL POLITICS & POLICY <!----></h2><span id="section-1-1-summary" class="sr-only">GLOBAL POLITICS & POLICY 6 items</span><ul class="max-h-0 overflow-hidden transition-max-height duration-[250ms] ease-in-out sm:max-h-[100rem] sm:overflow-visible" role="group"><!--[--><li class="my-2 sm:border-0"><span id="section-1-1-item-0-ordinal" class="sr-only">1st item</span><a href="https://www.politico.eu" id="section-1-1-item-0" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-1-1-summary section-1-1-item-0-ordinal section-1-1-item-0">Brussels</a></li><li class="my-2 sm:border-0"><span id="section-1-1-item-1-ordinal" class="sr-only">2nd item</span><a href="https://www.politico.com/canada-politics-news-updates-analysis" id="section-1-1-item-1" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-1-1-summary section-1-1-item-1-ordinal section-1-1-item-1">Canada</a></li><li class="my-2 sm:border-0"><span id="section-1-1-item-2-ordinal" class="sr-only">3rd item</span><a href="https://www.politico.eu/uk" id="section-1-1-item-2" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-1-1-summary section-1-1-item-2-ordinal section-1-1-item-2">United Kingdom</a></li><li class="my-2 sm:border-0"><span id="section-1-1-item-3-ordinal" class="sr-only">4th item</span><a href="https://www.politico.eu/france-politics-news/" id="section-1-1-item-3" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-1-1-summary section-1-1-item-3-ordinal section-1-1-item-3">France</a></li><li class="my-2 sm:border-0"><span id="section-1-1-item-4-ordinal" class="sr-only">5th item</span><a href="https://www.politico.eu/tag/german-politics/" id="section-1-1-item-4" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-1-1-summary section-1-1-item-4-ordinal section-1-1-item-4">Germany</a></li><li class="my-2 sm:border-0"><span id="section-1-1-item-5-ordinal" class="sr-only">6th item</span><a href="https://www.politico.com/newsletters/canberra-playbook" id="section-1-1-item-5" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-1-1-summary section-1-1-item-5-ordinal section-1-1-item-5">Australia</a></li><!--]--></ul></section><!--]--></div><div class="sm:w-1/2 sm:space-y-[30px] md:w-1/3 lg:w-1/6" data-testid="hamburger-column"><!--[--><section class="border-divide-gray-35 flex flex-col border-t sm:border-0"><h2 aria-expanded="false" tabindex="-1" class="flex cursor-pointer items-center justify-between whitespace-nowrap p-4 text-[length:var(--dimension-typescale-label-m)] font-bold leading-none transition-all duration-[250ms] ease-in-out sm:mb-2 sm:cursor-auto sm:p-0">POLICY NEWS <!----></h2><span id="section-2-0-summary" class="sr-only">POLICY NEWS 11 items</span><ul class="max-h-0 overflow-hidden transition-max-height duration-[250ms] ease-in-out sm:max-h-[100rem] sm:overflow-visible" role="group"><!--[--><li class="my-2 sm:border-0"><span id="section-2-0-item-0-ordinal" class="sr-only">1st item</span><a href="https://www.politico.com/food-agriculture-news-updates-analysis" id="section-2-0-item-0" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-2-0-summary section-2-0-item-0-ordinal section-2-0-item-0">Food and Agriculture</a></li><li class="my-2 sm:border-0"><span id="section-2-0-item-1-ordinal" class="sr-only">2nd item</span><a href="https://www.politico.com/cybersecurity-news-updates-analysis" id="section-2-0-item-1" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-2-0-summary section-2-0-item-1-ordinal section-2-0-item-1">Cybersecurity</a></li><li class="my-2 sm:border-0"><span id="section-2-0-item-2-ordinal" class="sr-only">3rd item</span><a href="https://www.politico.com/defense-national-security-foreign-policy-news-updates-analysis" id="section-2-0-item-2" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-2-0-summary section-2-0-item-2-ordinal section-2-0-item-2">Defense</a></li><li class="my-2 sm:border-0"><span id="section-2-0-item-3-ordinal" class="sr-only">4th item</span><a href="https://www.politico.com/education-news-updates-analysis" id="section-2-0-item-3" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-2-0-summary section-2-0-item-3-ordinal section-2-0-item-3">Education</a></li><li class="my-2 sm:border-0"><span id="section-2-0-item-4-ordinal" class="sr-only">5th item</span><a href="https://www.politico.com/energy-climate-news-updates-analysis" id="section-2-0-item-4" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-2-0-summary section-2-0-item-4-ordinal section-2-0-item-4">Energy and Climate</a></li><li class="my-2 sm:border-0"><span id="section-2-0-item-5-ordinal" class="sr-only">6th item</span><a href="https://www.politico.com/tax-finance-economy-news-updates-analysis" id="section-2-0-item-5" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-2-0-summary section-2-0-item-5-ordinal section-2-0-item-5">Tax, Finance and the Economy</a></li><li class="my-2 sm:border-0"><span id="section-2-0-item-6-ordinal" class="sr-only">7th item</span><a href="https://www.politico.com/healthcare-news-updates-analysis" id="section-2-0-item-6" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-2-0-summary section-2-0-item-6-ordinal section-2-0-item-6">Health Care</a></li><li class="my-2 sm:border-0"><span id="section-2-0-item-7-ordinal" class="sr-only">8th item</span><a href="https://www.politico.com/labor-news-updates-analysis" id="section-2-0-item-7" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-2-0-summary section-2-0-item-7-ordinal section-2-0-item-7">Labor</a></li><li class="my-2 sm:border-0"><span id="section-2-0-item-8-ordinal" class="sr-only">9th item</span><a href="https://www.politico.com/tech-news-updates-analysis" id="section-2-0-item-8" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-2-0-summary section-2-0-item-8-ordinal section-2-0-item-8">Tech</a></li><li class="my-2 sm:border-0"><span id="section-2-0-item-9-ordinal" class="sr-only">10th item</span><a href="https://www.politico.com/trade-news-updates-analysis" id="section-2-0-item-9" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-2-0-summary section-2-0-item-9-ordinal section-2-0-item-9">Trade</a></li><li class="my-2 sm:border-0"><span id="section-2-0-item-10-ordinal" class="sr-only">11th item</span><a href="https://www.politico.com/transportation-news-analysis-updates" id="section-2-0-item-10" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-2-0-summary section-2-0-item-10-ordinal section-2-0-item-10">Transportation</a></li><!--]--></ul></section><!--]--></div><div class="sm:w-1/2 sm:space-y-[30px] md:w-1/3 lg:w-1/6" data-testid="hamburger-column"><!--[--><section class="border-divide-gray-35 flex flex-col border-t sm:border-0"><h2 aria-expanded="false" tabindex="-1" class="flex cursor-pointer items-center justify-between whitespace-nowrap p-4 text-[length:var(--dimension-typescale-label-m)] font-bold leading-none transition-all duration-[250ms] ease-in-out sm:mb-2 sm:cursor-auto sm:p-0">NEWSLETTERS <!----></h2><span id="section-3-0-summary" class="sr-only">NEWSLETTERS 6 items</span><ul class="max-h-0 overflow-hidden transition-max-height duration-[250ms] ease-in-out sm:max-h-[100rem] sm:overflow-visible" role="group"><!--[--><li class="my-2 sm:border-0"><span id="section-3-0-item-0-ordinal" class="sr-only">1st item</span><a href="https://www.politico.com/playbook" id="section-3-0-item-0" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-3-0-summary section-3-0-item-0-ordinal section-3-0-item-0">Playbook</a></li><li class="my-2 sm:border-0"><span id="section-3-0-item-1-ordinal" class="sr-only">2nd item</span><a href="https://www.politico.com/newsletters/west-wing-playbook" id="section-3-0-item-1" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-3-0-summary section-3-0-item-1-ordinal section-3-0-item-1">West Wing Playbook</a></li><li class="my-2 sm:border-0"><span id="section-3-0-item-2-ordinal" class="sr-only">3rd item</span><a href="https://www.politico.com/newsletters/inside-congress" id="section-3-0-item-2" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-3-0-summary section-3-0-item-2-ordinal section-3-0-item-2">Inside Congress</a></li><li class="my-2 sm:border-0"><span id="section-3-0-item-3-ordinal" class="sr-only">4th item</span><a href="https://www.politico.com/newsletters/forecast" id="section-3-0-item-3" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-3-0-summary section-3-0-item-3-ordinal section-3-0-item-3">POLITICO Forecast</a></li><li class="my-2 sm:border-0"><span id="section-3-0-item-4-ordinal" class="sr-only">5th item</span><a href="https://www.politico.com/newsletters/magazine" id="section-3-0-item-4" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-3-0-summary section-3-0-item-4-ordinal section-3-0-item-4">POLITICO Magazine</a></li><li class="my-2 sm:border-0"><span id="section-3-0-item-5-ordinal" class="sr-only">6th item</span><a href="https://www.politico.com/newsletters" id="section-3-0-item-5" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-3-0-summary section-3-0-item-5-ordinal section-3-0-item-5">All Newsletters</a></li><!--]--></ul></section><!--]--></div><div class="sm:w-1/2 sm:space-y-[30px] md:w-1/3 lg:w-1/6" data-testid="hamburger-column"><!--[--><section class="border-divide-gray-35 flex flex-col border-t sm:border-0"><h2 aria-expanded="false" tabindex="-1" class="flex cursor-pointer items-center justify-between whitespace-nowrap p-4 text-[length:var(--dimension-typescale-label-m)] font-bold leading-none transition-all duration-[250ms] ease-in-out sm:mb-2 sm:cursor-auto sm:p-0">COLUMNISTS <!----></h2><span id="section-4-0-summary" class="sr-only">COLUMNISTS 7 items</span><ul class="max-h-0 overflow-hidden transition-max-height duration-[250ms] ease-in-out sm:max-h-[100rem] sm:overflow-visible" role="group"><!--[--><li class="my-2 sm:border-0"><span id="section-4-0-item-0-ordinal" class="sr-only">1st item</span><a href="https://www.politico.com/tag/column-alex-burns" id="section-4-0-item-0" class="block px-4 text-[length:var(--dimension-typescale-general-s)] font-normal leading-[133%] text-[var(--color-text-secondary)] hover:text-[var(--color-text-primary)] hover:underline sm:inline sm:px-0 sm:py-0" aria-labelledby="section-4-0-summary section-4-0-item-0-ordinal section-4-0-item-0">Alex Burns</a></li><li class="my-2 sm:border-0"><span id="section-4-0-item-1-ordinal" class="sr-only">2nd item</span><a 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gap-x-[30px] px-5 sm:px-[30px] md:grid md:grid-cols-[1fr,300px] lg:grid-cols-[300px,1fr,300px]" data-testid="article-column-left" data-v-8d32737f><div class="hidden lg:block" data-v-8d32737f><div class="mx-auto w-full text-left" data-v-8d32737f><!--[--><!--]--></div></div><div class="mx-auto w-full max-w-[630px] text-left" data-testid="article-column-center" data-v-8d32737f><div class="mx-auto w-full text-left" data-v-8d32737f><!--[--><div class="" data-testid="article-lead-summary"><!----><div><h1 data-testid="site-title" class="mt-[1.25rem] text-left text-2xl font-bold leading-[1.12] tracking-[-.02rem] sm:leading-none sm:tracking-[-.05rem] md:mt-[1.875rem] md:text-[1.75rem] lg:text-[2.5rem]">Trump says US has a deal to take huge stake in Venezuela’s oil reserves</h1></div><p data-testid="site-dek" class="mb-4 mt-2 text-left text-sm leading-[1.4] text-gray-vulcan-44 md:text-base md:leading-[1.4]">The president said the plan would help replenish U.S. oil reserves and drive down gas prices.</p></div><div class="w-full md:flex-[calc(50%-1.875rem)]" data-testid="article-lead-media"><aside class="order-2 mx-auto mt-[0.9375rem] block text-left md:mt-[1.875rem]" aria-label="President Donald Trump disembarks Air Force One upon his arrival at Joint Base Andrews, Maryland, on Aug. 28." islead="true"><figure class=""><img class="brix-image" alt="Donald Trump disembarks Air Force One." src="https://www.politico.com/dims4/default/resize/630/quality/90/format/webp?url=https%3A%2F%2Fstatic.politico.com%2F79%2F33%2F9f6281f64b81bc52f42819d222cb%2Ftrump-698-7.jpg" srcset="https://www.politico.com/dims4/default/resize/280/quality/90/format/webp?url=https%3A%2F%2Fstatic.politico.com%2F79%2F33%2F9f6281f64b81bc52f42819d222cb%2Ftrump-698-7.jpg 280w, https://www.politico.com/dims4/default/resize/560/quality/90/format/webp?url=https%3A%2F%2Fstatic.politico.com%2F79%2F33%2F9f6281f64b81bc52f42819d222cb%2Ftrump-698-7.jpg 560w, https://www.politico.com/dims4/default/resize/726/quality/90/format/webp?url=https%3A%2F%2Fstatic.politico.com%2F79%2F33%2F9f6281f64b81bc52f42819d222cb%2Ftrump-698-7.jpg 726w, https://www.politico.com/dims4/default/resize/1452/quality/90/format/webp?url=https%3A%2F%2Fstatic.politico.com%2F79%2F33%2F9f6281f64b81bc52f42819d222cb%2Ftrump-698-7.jpg 1452w, https://www.politico.com/dims4/default/resize/959/quality/90/format/webp?url=https%3A%2F%2Fstatic.politico.com%2F79%2F33%2F9f6281f64b81bc52f42819d222cb%2Ftrump-698-7.jpg 959w, https://www.politico.com/dims4/default/resize/1918/quality/90/format/webp?url=https%3A%2F%2Fstatic.politico.com%2F79%2F33%2F9f6281f64b81bc52f42819d222cb%2Ftrump-698-7.jpg 1918w, https://www.politico.com/dims4/default/resize/888/quality/90/format/webp?url=https%3A%2F%2Fstatic.politico.com%2F79%2F33%2F9f6281f64b81bc52f42819d222cb%2Ftrump-698-7.jpg 888w, https://www.politico.com/dims4/default/resize/1776/quality/90/format/webp?url=https%3A%2F%2Fstatic.politico.com%2F79%2F33%2F9f6281f64b81bc52f42819d222cb%2Ftrump-698-7.jpg 1776w, https://www.politico.com/dims4/default/resize/630/quality/90/format/webp?url=https%3A%2F%2Fstatic.politico.com%2F79%2F33%2F9f6281f64b81bc52f42819d222cb%2Ftrump-698-7.jpg 630w, https://www.politico.com/dims4/default/resize/1260/quality/90/format/webp?url=https%3A%2F%2Fstatic.politico.com%2F79%2F33%2F9f6281f64b81bc52f42819d222cb%2Ftrump-698-7.jpg 1260w" sizes="(max-width: 320px) 280px, (max-width: 766px) 726px, (max-width: 1019px) 959px, (max-width: 1278px) 888px, (min-width: 1279px) 630px" style="aspect-ratio:3/2 auto;" loading="eager" fetchpriority="high" data-v-588b226f><figcaption><p data-testid="site-caption" class="mb-2.5 border-b border-gray-200 pb-2.5 text-sm leading-[1.2] text-gray-vulcan-44 md:pt-2.5 pt-2.5"><span data-testid="site-caption-text">President Donald Trump disembarks Air Force One upon his arrival at Joint Base Andrews, Maryland, on Aug. 28.</span><span aria-hidden="true"> | </span><span data-testid="site-caption-attribution">Luis M. Alvarez/AP</span><!----><!----></p></figcaption></figure></aside><!----></div><div class="flex flex-col mb-5 md:mb-[1.875rem] pt-2 gap-[0.46875rem] sm:pt-5 md:pt-[0.5rem]"><!--[--><!----><div class="flex w-full flex-col gap-y-2"><div class="flex w-full flex-wrap items-start justify-between gap-x-4 gap-y-2"><div class="min-w-0 flex-auto"><span class="block min-w-0 break-words text-left text-xs leading-normal tracking-[0.1rem] text-gray-vulcan-44" data-testid="site-byline"><!--[--><!--[-->By <a href="https://www.politico.com/staff/megan-messerly" target="_top" class="uppercase hover:text-current font-bold text-gray-vulcan-51">Megan Messerly</a><!--]--><!--[-->, <a href="https://www.politico.com/staff/ben-lefebvre" target="_top" class="uppercase hover:text-current font-bold text-gray-vulcan-51">Ben Lefebvre</a><!--]--><!--[--> and <a href="https://www.politico.com/staff/scott-waldman" target="_top" class="uppercase hover:text-current font-bold text-gray-vulcan-51">Scott Waldman</a><!--]--><!--]--></span><p class="text-left" data-testid="article-date"><span data-testid="site-date" class="text-xs leading-normal tracking-[0.1rem] text-gray-vulcan-44 mr-2"><!----><span>08/28/2026 07:51 PM EDT</span></span><!--[--><span class="mr-2 text-xs text-gray-vulcan-44">|</span><span data-testid="site-date" class="text-xs leading-normal tracking-[0.1rem] text-gray-vulcan-44"><!--[-->Updated: <!--]--><span>08/29/2026 12:32 PM EDT</span></span><!--]--></p></div><div class="flex max-w-full flex-none flex-wrap items-center gap-3"><a class="brix-btn brix-btn--surface brix-btn--small brix-btn--standard whitespace-nowrap p-space-static-s text-xs leading-none" data-testid="google-preferred-source-button" href="https://www.google.com/preferences/source?q=politico.com" aria-label="Add POLITICO on Google (opens in a new window)" target="_blank" rel="noopener noreferrer" data-v-41940b38><svg class="icon" height="12px" role="presentation" version="1.1" viewBox="0 0 18 18" width="12px" xmlns="http://www.w3.org/2000/svg" data-v-41940b38><!----><g stroke="none" stroke-width="1" fill="none" fill-rule="evenodd"><g fill="currentColor"><path d="M9 3C9.41421 3 9.75 3.33579 9.75 3.75V8.25H14.25C14.6642 8.25 15 8.58579 15 9C15
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Venezuela’s estimated crude oil reserves are among the largest in the world, representing about 20 percent of total supply, according to the Energy Information Administration.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">Trump credited Secretary of State Marco Rubio and Defense Secretary <!--[-->Pete Hegseth<!--]--> with negotiating the deal with Venezuelan President <!--[-->Delcy Rodriguez<!--]-->, who was installed as the leader after the U.S. launched a military operation to seize <!--[-->Nicolas Maduro<!--]-->. Energy Secretary <!--[-->Chris Wright<!--]--> was scheduled to fly to Venezuela next week, three people in the oil industry familiar with the plans said, though it was unclear whether the trip was connected to <!--[-->Trump<!--]-->’s Friday announcement.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">Several independent oil companies signed contracts earlier this month to drill for oil in Venezuela, though none of them have any history working in a region challenged by lack of investment and chaotic governing. Giant oil company Chevron has also been operating in Venezuela for years.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">The U.S. has largely controlled exports of crude oil from the South American nation since snatching <!--[-->Maduro<!--]--> from his home in early January. The news appears to give the <!--[-->Trump<!--]--> administration more direct control over the country’s fields, though developing the tar-like deposits of oil and shipping it to the coast for export is likely to take years.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">A U.S. official, granted anonymity to share details of the arrangement, described the deal as a new private joint venture between the U.S. government and an “experienced private operator in Venezuela,” but did not name the company.</p><div style="" class="flex flex-col mb-5 pt-[1.25rem] md:mb-[1.875rem] md:pt-[1.875rem] min-h-[11.45rem] sm:min-h-[10.2625rem] md:min-h-[11.45rem] md:hidden ml-[calc(50%-50vw)] w-screen max-w-none"><div id="banner_btf_201-wrap" role="group" class="content-group ad relative flex min-h-0 flex-1 flex-col before:inset-0 before:right-0 before:z-10 before:block before:w-full before:pb-2.5 before:text-center before:text-sm before:leading-[1.05rem] before:text-gray-vulcan-44 before:content-[attr(data-ad-label)]" data-ad-label="Advertisement" aria-label="Advertisement"><div id="banner_btf_201" class="relative" aria-hidden="true" data-target="pos=201"></div></div></div><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">The new venture will be the second-largest private oil company in the world, after Saudi Aramco, the official said, with the U.S. effectively controlling 55 percent of the venture’s output through a combination of equity ownership and guaranteed access to oil at cost.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">“As the company scales production, the resulting stable supply of at-cost oil in our Hemisphere will go toward filling the U.S. strategic petroleum reserve and fulfilling the supply needs of our Great U.S. Military,” the official said.</p><!--]--></div></div><div class="article-row-with-three-columns__right-column hidden md:flex md:flex-col" data-testid="article-column-right" data-v-8d32737f><div class="mx-auto w-full text-left flex flex-col gap-5" data-v-8d32737f><!--[--><div style="" class="flex flex-col min-h-[11.45rem] sm:min-h-[10.2625rem] md:min-h-[11.45rem]"><div id="mrec_btf_101-wrap" role="group" class="content-group ad relative flex min-h-0 flex-1 flex-col before:inset-0 before:right-0 before:z-10 before:block before:w-full before:pb-2.5 before:text-center before:text-sm before:leading-[1.05rem] before:text-gray-vulcan-44 before:content-[attr(data-ad-label)]" data-ad-label="Advertisement" aria-label="Advertisement"><div id="mrec_btf_101" class="relative" aria-hidden="true" data-target="pos=101"></div></div></div><!--]--></div></div></div></div><!--]--><!--[--><div class="w-full"><div class="mx-auto max-w-[1350px]"><div class="mx-auto w-full text-left"><!--[--><div style="" class="flex flex-col mb-5 pt-[1.25rem] md:mb-[1.875rem] md:pt-[1.875rem] min-h-[11.45rem] sm:min-h-[10.2625rem] md:min-h-[11.45rem] hidden md:block"><div id="banner_btf_202-wrap" role="group" class="content-group ad relative flex min-h-0 flex-1 flex-col before:inset-0 before:right-0 before:z-10 before:block before:w-full before:pb-2.5 before:text-center before:text-sm before:leading-[1.05rem] before:text-gray-vulcan-44 before:content-[attr(data-ad-label)]" data-ad-label="Advertisement" aria-label="Advertisement"><div id="banner_btf_202" class="relative" aria-hidden="true" data-target="pos=202"></div></div></div><!--]--></div></div></div><!--]--><!--[--><div class="article-row-with-three-columns w-full" data-v-8d32737f><div class="mx-auto max-w-[1350px] gap-x-[30px] px-5 sm:px-[30px] md:grid md:grid-cols-[1fr,300px] lg:grid-cols-[300px,1fr,300px]" data-testid="article-column-left" data-v-8d32737f><div class="hidden lg:block" data-v-8d32737f><div class="mx-auto w-full text-left" data-v-8d32737f><!--[--><!--]--></div></div><div class="mx-auto w-full max-w-[630px] text-left" data-testid="article-column-center" data-v-8d32737f><div class="mx-auto w-full text-left" data-v-8d32737f><!--[--><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">The deal isn’t final yet, said one of the oil industry executives, who was familiar with the plan and granted anonymity to discuss non-public details. “It’s complicated, it’s built on a legal environment that does not exist. The Venezuela constitution does not allow for anyone other than PDVSA to own rights to oil and gas in the country,” the person said.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">But the White House is still keen to promote the idea, this person said. “The end of story is the president wants to say we have billions of barrels of oil in reserve. That would act as a price stabilization nuclear bomb. Oh, the Iranians have blocked Hormuz? The president could say. ‘I have 65 billion barrels in reserve.’”</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">Any company looking to join the <!--[-->Trump<!--]--> administration in such a venture would face a number of problems, said <!--[-->David Goldwyn<!--]-->, president of international energy advisory firm Goldwyn Global Strategies. Those include the lack of pipelines in the country, constrained export facilities and the possibility of new administration in either country deciding they don’t want to participate in the deal.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">A bigger problem might be the reputational and financial hit such a company might take, Goldwyn added.</p><div style="" class="flex flex-col mb-5 pt-[1.25rem] md:mb-[1.875rem] md:pt-[1.875rem] min-h-[11.45rem] sm:min-h-[10.2625rem] md:min-h-[11.45rem] md:hidden ml-[calc(50%-50vw)] w-screen max-w-none"><div id="banner_btf_203-wrap" role="group" class="content-group ad relative flex min-h-0 flex-1 flex-col before:inset-0 before:right-0 before:z-10 before:block before:w-full before:pb-2.5 before:text-center before:text-sm before:leading-[1.05rem] before:text-gray-vulcan-44 before:content-[attr(data-ad-label)]" data-ad-label="Advertisement" aria-label="Advertisement"><div id="banner_btf_203" class="relative" aria-hidden="true" data-target="pos=203"></div></div></div><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">“I have to wonder why a U.S. company ... would want to put a target on its back and become a national pariah by taking up a noncompetitive undertaking with the U.S. government,” <!--[-->Goldwyn<!--]--> said. “And if your obligation is to sell a share or all of your production into the United States, rather than being able to put it on the open market, you are locking yourself into a less optimal [profit] than you’d have with any other project.”</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">The announcement comes as <!--[-->Trump<!--]--> stares down a challenging midterm election in which the cost of living, including high gas prices because of the ongoing war with Iran, is a key issue dogging Republicans on the campaign trail. The average price of a gallon of gas was $4.09 as of Friday, according to AAA, hovering at the highest prices on record for this time of year.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">Experts have said that on top of the difficult task of tapping Venezuela’s fields, the country’s energy infrastructure has deteriorated significantly over the decades and needs billions of dollars in new investment to become functional at scale.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">U.S. refiners are well-positioned to process Venezuela’s heavy crude, but U.S. those plants have been running at near-maximum capacity for weeks and are not positioned to handle any significant infusion of new crude.</p><!--]--></div></div><div class="article-row-with-three-columns__right-column hidden md:flex md:flex-col" data-testid="article-column-right" data-v-8d32737f><div class="mx-auto w-full text-left flex flex-col gap-5" data-v-8d32737f><!--[--><div data-testid="site-horizontal-collection" class=""><header class="flex items-center justify-center py-[0.9375rem] uppercase"><h2 class="text-xs font-bold leading-[1.2] tracking-[0.1rem]">Watch: The Conversation</h2></header><div class="flex overflow-x-hidden"><div class="relative flex w-full shrink-0 flex-col px-[0.9375rem]"><div class="border border-border-default h-full"><div class="relative"><!--[--><aside class="" data-testid="site-video-6404505605112" data-v-9c8b7bbd><figure class="video-object relative" data-v-9c8b7bbd><div class="video-player" data-v-9c8b7bbd><video id="politicoPlayer_6404505605112" data-account="1155968404" data-player="r1WF6V0Pl" data-video-id="6404505605112" data-embed="default" data-is-initted="false" data-is-live="false" data-is-autoforward="true" data-is-autoplay="false" class="video-js" controls poster="https://www.politico.com/dims4/default/resize/270/quality/90/format/webp?url=https%3A%2F%2Fcf-images.us-east-1.prod.boltdns.net%2Fv1%2Fstatic%2F1155968404%2F6b847f4b-b115-4396-9da4-e0e02333151b%2F69552476-920b-471e-ab4e-3adfd6bb08bb%2F1280x720%2Fmatch%2Fimage.jpg" data-v-9c8b7bbd></video></div><!----></figure></aside><!----><!--]--><!----></div><div class="p-[0.9375rem] relative"><!----><a href="https://www.politico.com/video/2026/09/02/stephen-a-smith-on-trump-democrats-and-the-politics-of-chaos-2156846" class="js-tealium-tracking [&>span]:hover:text-blue-denim-88 font-bold">Stephen A. Smith on Trump, Democrats and the politics of chaos</a><!----></div></div></div></div></div><!--]--></div></div></div></div><!--]--><!--[--><div class="w-full"><div class="mx-auto max-w-[1350px]"><div class="mx-auto w-full text-left"><!--[--><div style="" class="flex flex-col mb-5 pt-[1.25rem] md:mb-[1.875rem] md:pt-[1.875rem] min-h-[11.45rem] sm:min-h-[10.2625rem] md:min-h-[11.45rem] hidden md:block"><div id="banner_btf_204-wrap" role="group" class="content-group ad relative flex min-h-0 flex-1 flex-col before:inset-0 before:right-0 before:z-10 before:block before:w-full before:pb-2.5 before:text-center before:text-sm before:leading-[1.05rem] before:text-gray-vulcan-44 before:content-[attr(data-ad-label)]" data-ad-label="Advertisement" aria-label="Advertisement"><div id="banner_btf_204" class="relative" aria-hidden="true" data-target="pos=204"></div></div></div><!--]--></div></div></div><!--]--><!--[--><div class="article-row-with-three-columns w-full" data-v-8d32737f><div class="mx-auto max-w-[1350px] gap-x-[30px] px-5 sm:px-[30px] md:grid md:grid-cols-[1fr,300px] lg:grid-cols-[300px,1fr,300px]" data-testid="article-column-left" data-v-8d32737f><div class="hidden lg:block" data-v-8d32737f><div class="mx-auto w-full text-left" data-v-8d32737f><!--[--><!--]--></div></div><div class="mx-auto w-full max-w-[630px] text-left" data-testid="article-column-center" data-v-8d32737f><div class="mx-auto w-full text-left" data-v-8d32737f><!--[--><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]"><!--[-->Rubio<!--]--> said in a social media post that the new deal would benefit both the U.S. and Venezuela.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">“For the Venezuelan people, this deal will bring nearly $100 billion in private investment, support thousands of high-paying jobs, and drive the reconstruction of Venezuela’s economy,” <a href="https://x.com/SecRubio/status/2093472965404860812" class="text-[var(--color-link-default)]"><!--[-->he said on social media<!--]--></a>.</p><div style="" class="flex flex-col mb-5 pt-[1.25rem] md:mb-[1.875rem] md:pt-[1.875rem] min-h-[11.45rem] sm:min-h-[10.2625rem] md:min-h-[11.45rem] md:hidden ml-[calc(50%-50vw)] w-screen max-w-none"><div id="banner_btf_205-wrap" role="group" class="content-group ad relative flex min-h-0 flex-1 flex-col before:inset-0 before:right-0 before:z-10 before:block before:w-full before:pb-2.5 before:text-center before:text-sm before:leading-[1.05rem] before:text-gray-vulcan-44 before:content-[attr(data-ad-label)]" data-ad-label="Advertisement" aria-label="Advertisement"><div id="banner_btf_205" class="relative" aria-hidden="true" data-target="pos=205"></div></div></div><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">Details on the plan remain vague, but using the power of the U.S. government to remove some of the risk for companies that want to start drilling in the South American country could speed the development, said <!--[-->Landon Derentz<!--]-->, an energy and national security adviser in the first <!--[-->Trump<!--]--> administration and Obama administration, now at the think tank The Atlantic Council.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">“If the <!--[-->Delcy Rodríguez<!--]--> government and the <!--[-->Trump<!--]--> administration can find a pathway to deploy capital, this is going to send a signal to the market that this is a place to do business,” <!--[-->Derentz<!--]--> said. “Conceptually, yes, this could work.”</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">Without U.S. support, Venezuela will not be able to expand their oil exports in a meaningful way, said <!--[-->Rich Goldberg<!--]-->, former senior council of the White House Energy Dominance Council.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">“They need a lot of support, they cannot do this on their own because of the years of corruption and decay in the oil sector,” he said. “It sort of makes sense that we would be bringing a lot to the table to have an accelerated timeline for more U.S. companies to come in and develop and produce and then export.”</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">But taking direct control of Venezuelan oil fields — even if it happens — would do little to change prices anytime soon, said <!--[-->Greg Brew<!--]-->, senior analyst at geopolitics consulting firm Eurasia Group.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">“The idea that this will lower domestic US gas prices at any point in the near future is...tenuous, at best,” <a href="https://x.com/gbrew24/status/2093481358278513046" class="text-[var(--color-link-default)]"><!--[--><!--[-->Brew<!--]--> said in a post on social media.<!--]--></a> “Gas prices are currently high because of the US confrontation with Iran, the war in Ukraine, and a relative shortage of global refining capacity. Some oil in Venezuela--the commercial viability of which is largely theoretical--does little to address this.”</p><div style="" class="flex flex-col mb-5 pt-[1.25rem] md:mb-[1.875rem] md:pt-[1.875rem] min-h-[11.45rem] sm:min-h-[10.2625rem] md:min-h-[11.45rem] md:hidden ml-[calc(50%-50vw)] w-screen max-w-none"><div id="banner_btf_206-wrap" role="group" class="content-group ad relative flex min-h-0 flex-1 flex-col before:inset-0 before:right-0 before:z-10 before:block before:w-full before:pb-2.5 before:text-center before:text-sm before:leading-[1.05rem] before:text-gray-vulcan-44 before:content-[attr(data-ad-label)]" data-ad-label="Advertisement" aria-label="Advertisement"><div id="banner_btf_206" class="relative" aria-hidden="true" data-target="pos=206"></div></div></div><!--]--></div></div><div class="article-row-with-three-columns__right-column hidden md:flex md:flex-col" data-testid="article-column-right" data-v-8d32737f><div class="mx-auto w-full text-left flex flex-col gap-5" data-v-8d32737f><!--[--><div style="display:none;">[@portabletext/vue] Unknown block type "most-read", specify a component for it in the `components.types` prop</div><!--]--></div></div></div></div><!--]--><!--[--><div class="w-full"><div class="mx-auto max-w-[1350px]"><div class="mx-auto w-full text-left"><!--[--><div style="" class="flex flex-col mb-5 pt-[1.25rem] md:mb-[1.875rem] md:pt-[1.875rem] min-h-[11.45rem] sm:min-h-[10.2625rem] md:min-h-[11.45rem] hidden md:block"><div id="banner_btf_207-wrap" role="group" class="content-group ad relative flex min-h-0 flex-1 flex-col before:inset-0 before:right-0 before:z-10 before:block before:w-full before:pb-2.5 before:text-center before:text-sm before:leading-[1.05rem] before:text-gray-vulcan-44 before:content-[attr(data-ad-label)]" data-ad-label="Advertisement" aria-label="Advertisement"><div id="banner_btf_207" class="relative" aria-hidden="true" data-target="pos=207"></div></div></div><!--]--></div></div></div><!--]--><!--[--><div class="article-row-with-three-columns w-full" data-v-8d32737f><div class="mx-auto max-w-[1350px] gap-x-[30px] px-5 sm:px-[30px] md:grid md:grid-cols-[1fr,300px] lg:grid-cols-[300px,1fr,300px]" data-testid="article-column-left" data-v-8d32737f><div class="hidden lg:block" data-v-8d32737f><div class="mx-auto w-full text-left" data-v-8d32737f><!--[--><!--]--></div></div><div class="mx-auto w-full max-w-[630px] text-left" data-testid="article-column-center" data-v-8d32737f><div class="mx-auto w-full text-left" data-v-8d32737f><!--[--><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">The <!--[-->Trump<!--]--> administration has been frustrated by U.S. companies’ reticence to reenter Venezuela, where several companies, including Exxon Mobil, saw previous assets worth billions of dollars seized by the government after former President <!--[-->Hugo Chavez<!--]--> nationalized the industry.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">The administration has been putting pressure on <!--[-->Rodriguez<!--]--> to have the country’s state-run oil company sign contracts with American companies, and she last month unveiled new regulations offering more favorable terms to international oil companies. And top administration officials traveled to Caracas in late April to secure memorandums of understanding that laid the groundwork for the kind of deal the president announced Friday.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">But the prospect of one of the world’s wealthiest countries taking the natural resources of an impoverished country like Venezuela will cause immediate political consequences for the <!--[-->Rodriguez<!--]--> government, said <!--[-->Brett Erickson<!--]-->, managing principal of Obsidian Risk Advisors.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">“The obvious risk is the people who are already very much struggling will riot and rise up and see this as being a clear raping of their resources, which it is,” <!--[-->Erickson<!--]--> said. “It doesn’t take a rocket scientist to see that this is a very corrupt deal and completely against the will of the Venezuelan people. These are their natural resources.”</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]"><!--[-->Daniel Di Martino<!--]-->, a Venezuelan-born economist and fellow at the Manhattan Institute, a conservative think tank, said the deal will unlock more oil production if it reduces the “uncertainty for oil companies regarding the returns of their investments in Venezuela post-Trump.”</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]">“That will be hard-to-impossible to do if <!--[-->Delcy<!--]--> remains in power,” Di Martino said.</p><p data-testid="plain-text-block" class="font-text text-[length:var(--dimension-typescale-body-l)] text-[var(--color-text-primary)] leading-[1.6] mt-5 md:mt-[1.875rem]"><em>James Bikales contributed to this report.</em></p><!--]--></div></div><div class="article-row-with-three-columns__right-column hidden md:flex md:flex-col" data-testid="article-column-right" data-v-8d32737f><div class="mx-auto w-full text-left flex flex-col gap-5" data-v-8d32737f><!--[--><div style="" class="flex flex-col min-h-[11.45rem] sm:min-h-[10.2625rem] md:min-h-[11.45rem]"><div id="mrec_btf_102-wrap" role="group" class="content-group ad relative flex min-h-0 flex-1 flex-col before:inset-0 before:right-0 before:z-10 before:block before:w-full before:pb-2.5 before:text-center before:text-sm before:leading-[1.05rem] before:text-gray-vulcan-44 before:content-[attr(data-ad-label)]" data-ad-label="Advertisement" aria-label="Advertisement"><div id="mrec_btf_102" class="relative" aria-hidden="true" data-target="pos=102"></div></div></div><!--]--></div></div></div></div><!--]--><!--[--><div class="article-row-with-three-columns w-full" data-v-8d32737f><div class="mx-auto max-w-[1350px] gap-x-[30px] px-5 sm:px-[30px] md:grid md:grid-cols-[1fr,300px] lg:grid-cols-[300px,1fr,300px]" data-testid="article-column-left" data-v-8d32737f><div class="hidden lg:block" data-v-8d32737f><div class="mx-auto w-full text-left" data-v-8d32737f><!--[--><!--]--></div></div><div class="mx-auto w-full max-w-[630px] text-left" data-testid="article-column-center" data-v-8d32737f><div class="mx-auto w-full text-left" data-v-8d32737f><!--[--><aside class="mt-space-flux-l" data-testid="article-tags"><span class="flex items-center gap-space-flux-micro-s text-type-label-m font-medium text-text-primary"><svg class="icon" height="16px" role="presentation" version="1.1" viewBox="0 0 18 18" width="16px" xmlns="http://www.w3.org/2000/svg" aria-hidden="true"><!----><g stroke="none" stroke-width="1" fill="none" fill-rule="evenodd"><g fill="currentColor"><path d="M8.25 1.5C8.44891 1.5 8.63962 1.57907 8.78027 1.71973L16.2803 9.21973C16.5732
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Transaction will greatly strengthen the already growing relationship between Venezuela and the United States!” ",{"_type":26,"_key":85,"marks":86,"text":78},"KOywiT1A1YYC",[77],{"_type":26,"_key":88,"marks":89,"text":90},"CVbvEOXfNiHB",[]," ",{"_type":26,"_key":92,"marks":93,"text":94},"8vcErLOIh9Tv",[74],"wrote on Truth Social",{"_type":26,"_key":96,"marks":97,"text":98},"rCgCsrb15LLb",[],".",{"_type":12,"_key":100,"fingerprint":101,"style":15,"listItem":16,"level":17,"markDefs":102,"children":103,"empty":37},"wklyNgBTjpt2","1CC-27-3D2-B2-1AA-391-3D2-1F0-3B4",[],[104],{"_type":26,"_key":105,"marks":106,"text":107},"k67MbXbvzz0x",[],"The agreement would cover a fraction of Venezuela’s 300 billion barrels of proven oil reserves. 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Energy Secretary ",{"_type":26,"_key":155,"marks":156,"text":117},"UHdPaHZhepFI",[115],{"_type":26,"_key":158,"marks":159,"text":160},"ULiOhFy9Blpf",[]," was scheduled to fly to Venezuela next week, three people in the oil industry familiar with the plans said, though it was unclear whether the trip was connected to ",{"_type":26,"_key":162,"marks":163,"text":78},"79geVb32kyvV",[113],{"_type":26,"_key":165,"marks":166,"text":167},"GaoeSXxxE4PG",[],"’s Friday announcement.",{"_type":12,"_key":169,"fingerprint":170,"style":15,"listItem":16,"level":17,"markDefs":171,"children":172,"empty":37},"dKo677V65sz7","8B-302-20F-22D-161-1DF-249-58-2DD-2E3-359",[],[173],{"_type":26,"_key":174,"marks":175,"text":176},"Lo65kIcQQwki",[],"Several independent oil companies signed contracts earlier this month to drill for oil in Venezuela, though none of them have any history working in a region challenged by lack of investment and chaotic governing. Giant oil company Chevron has also been operating in Venezuela for years.",{"_type":12,"_key":178,"fingerprint":179,"style":15,"listItem":16,"level":17,"markDefs":180,"children":186,"empty":37},"MbmOW54m0bJ8","3D3-3D6-22-1A2-25D-18F-2EA-118-2CC-9B-320-D5-277",[181,183],{"_type":20,"_key":182,"empty":9,"text":78},"U4e8NovprXO6",{"_type":20,"_key":184,"empty":9,"text":185},"bSpRDpKRXnqc","Maduro",[187,191,194,198,201],{"_type":26,"_key":188,"marks":189,"text":190},"QadGd0LGjors",[],"The U.S. has largely controlled exports of crude oil from the South American nation since snatching ",{"_type":26,"_key":192,"marks":193,"text":185},"IYlg3IquKtkA",[184],{"_type":26,"_key":195,"marks":196,"text":197},"Ov1LhB1PRztN",[]," from his home in early January. The news appears to give the ",{"_type":26,"_key":199,"marks":200,"text":78},"QkEoPp9C8aBH",[182],{"_type":26,"_key":202,"marks":203,"text":204},"prqxeLKsA2Mj",[]," administration more direct control over the country’s fields, though developing the tar-like deposits of oil and shipping it to the coast for export is likely to take years.",{"_type":12,"_key":206,"fingerprint":207,"style":15,"listItem":16,"level":17,"markDefs":208,"children":209,"empty":37},"A5hzXHS0YJEF","29B-384-326-358-156-181-6",[],[210],{"_type":26,"_key":211,"marks":212,"text":213},"S8RvRZ2o1RNZ",[],"A U.S. official, granted anonymity to share details of the arrangement, described the deal as a new private joint venture between the U.S. government and an “experienced private operator in Venezuela,” but did not name the company.",{"_key":215,"_type":49,"slotConfig":216,"location":224},"dynamic-viewport-ad-dynamic-viewport-mobile-8",[217,219,221,223],{"slot":52,"adId":53,"hideNextSibling":9,"adRefreshRate":54,"additionalAttributes":218},{"data-target":56},{"slot":58,"adId":59,"cssClasses":60,"hideNextSibling":9,"adRefreshRate":54,"additionalAttributes":220},{"data-target":62},{"slot":64,"adId":65,"hideNextSibling":9,"adRefreshRate":54,"additionalAttributes":222},{"data-target":67},{"slot":224,"adId":225,"label":226,"additionalAttributes":227},"dynamic-viewport-mobile","banner_btf_201","Advertisement",{"data-target":228},"pos=201",{"_type":12,"_key":230,"fingerprint":231,"style":15,"listItem":16,"level":17,"markDefs":232,"children":233,"empty":37},"3ZgyNTiPkaBi","BB-1CB-1FD-39A-363-392-300-17C",[],[234],{"_type":26,"_key":235,"marks":236,"text":237},"ZT4AU56xIubq",[],"The new venture will be the second-largest private oil company in the world, after Saudi Aramco, the official said, with the U.S. effectively controlling 55 percent of the venture’s output through a combination of equity ownership and guaranteed access to oil at cost.",{"_type":12,"_key":239,"fingerprint":240,"style":15,"listItem":16,"level":17,"markDefs":241,"children":242,"empty":37},"oIhkB2ndP9tl","7E-9C-1D3-2DE-A8-1F6-99",[],[243],{"_type":26,"_key":244,"marks":245,"text":246},"m75rtmCRv9uM",[],"“As the company scales production, the resulting stable supply of at-cost oil in our Hemisphere will go toward filling the U.S. strategic petroleum reserve and fulfilling the supply needs of our Great U.S. Military,” the official said.",{"_key":248,"_type":49,"slotConfig":249,"location":257},"dynamic-viewport-ad-dynamic-viewport-desktop-10",[250,252,254,256],{"slot":52,"adId":53,"hideNextSibling":9,"adRefreshRate":54,"additionalAttributes":251},{"data-target":56},{"slot":58,"adId":59,"cssClasses":60,"hideNextSibling":9,"adRefreshRate":54,"additionalAttributes":253},{"data-target":62},{"slot":64,"adId":65,"hideNextSibling":9,"adRefreshRate":54,"additionalAttributes":255},{"data-target":67},{"slot":257,"adId":258,"label":226,"additionalAttributes":259},"dynamic-viewport-desktop","banner_btf_202",{"data-target":260},"pos=202",{"_type":12,"_key":262,"fingerprint":263,"style":15,"listItem":16,"level":17,"markDefs":264,"children":265,"empty":37},"VRQqAYQI6JJ9","146-23F-285-2DD-2EA-137-4B-218-150-322-178-320-28",[],[266],{"_type":26,"_key":267,"marks":268,"text":269},"6bYert7o6kMC",[],"The deal isn’t final yet, said one of the oil industry executives, who was familiar with the plan and granted anonymity to discuss non-public details. “It’s complicated, it’s built on a legal environment that does not exist. The Venezuela constitution does not allow for anyone other than PDVSA to own rights to oil and gas in the country,” the person said.",{"_type":12,"_key":271,"fingerprint":272,"style":15,"listItem":16,"level":17,"markDefs":273,"children":274,"empty":37},"KNfTiW7lhABy","3E-72-2D5-323-80-5D-3C2-280-29F-33-AC-1D2",[],[275],{"_type":26,"_key":276,"marks":277,"text":278},"9IGCMIyIkUsi",[],"But the White House is still keen to promote the idea, this person said. “The end of story is the president wants to say we have billions of barrels of oil in reserve. That would act as a price stabilization nuclear bomb. Oh, the Iranians have blocked Hormuz? 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Those include the lack of pipelines in the country, constrained export facilities and the possibility of new administration in either country deciding they don’t want to participate in the deal.",{"_type":12,"_key":308,"fingerprint":309,"style":15,"listItem":16,"level":17,"markDefs":310,"children":311,"empty":37},"g2oTDi0DGMIu","1D6-12F-17C",[],[312],{"_type":26,"_key":313,"marks":314,"text":315},"7YZQLzj8YBy0",[],"A bigger problem might be the reputational and financial hit such a company might take, Goldwyn added.",{"_key":317,"_type":49,"slotConfig":318,"location":224},"dynamic-viewport-ad-dynamic-viewport-mobile-14",[319,321,323,325],{"slot":52,"adId":53,"hideNextSibling":9,"adRefreshRate":54,"additionalAttributes":320},{"data-target":56},{"slot":58,"adId":59,"cssClasses":60,"hideNextSibling":9,"adRefreshRate":54,"additionalAttributes":322},{"data-target":62},{"slot":64,"adId":65,"hideNextSibling":9,"adRefreshRate":54,"additionalAttributes":324},{"data-target":67},{"slot":224,"adId":326,"label":226,"additionalAttributes":327},"banner_btf_203",{"data-target":328},"pos=203",{"_type":12,"_key":330,"fingerprint":331,"style":15,"listItem":16,"level":17,"markDefs":332,"children":336,"empty":37},"4tVjedZbrVwT","208-73-85-113-5F-1A8-26-81-3D9-1B0-2BF-300-29-9F-394-B",[333],{"_type":20,"_key":334,"empty":9,"text":335},"T2wj9OFhQPCF","Goldwyn",[337,341,344],{"_type":26,"_key":338,"marks":339,"text":340},"SxDW6OGWJqUu",[],"“I have to wonder why a U.S. company ... would want to put a target on its back and become a national pariah by taking up a noncompetitive undertaking with the U.S. government,” ",{"_type":26,"_key":342,"marks":343,"text":335},"b4FLGfTl8XT4",[334],{"_type":26,"_key":345,"marks":346,"text":347},"fQAgRFPfiLkQ",[]," said. “And if your obligation is to sell a share or all of your production into the United States, rather than being able to put it on the open market, you are locking yourself into a less optimal [profit] than you’d have with any other project.”",{"_type":12,"_key":349,"fingerprint":350,"style":15,"listItem":16,"level":17,"markDefs":351,"children":354,"empty":37},"MfRaBKd8Bftb","3A8-AA-3DD-15F-14D-5-383-215-325-25F-29-9D",[352],{"_type":20,"_key":353,"empty":9,"text":78},"ShvRu2k2dtZh",[355,359,362],{"_type":26,"_key":356,"marks":357,"text":358},"W4HPnuNXiegC",[],"The announcement comes as ",{"_type":26,"_key":360,"marks":361,"text":78},"DEJ6YuzAlNhH",[353],{"_type":26,"_key":363,"marks":364,"text":365},"7IhnApwAkB6J",[]," stares down a challenging midterm election in which the cost of living, including high gas prices because of the ongoing war with Iran, is a key issue dogging Republicans on the campaign trail. The average price of a gallon of gas was $4.09 as of Friday, according to AAA, hovering at the highest prices on record for this time of year.",{"_type":12,"_key":367,"fingerprint":368,"style":15,"listItem":16,"level":17,"markDefs":369,"children":370,"empty":37},"c0SV3etJPkV2","125-373-16-3BA-129-14-1E4-191",[],[371],{"_type":26,"_key":372,"marks":373,"text":374},"6QR8kSYfXHrn",[],"Experts have said that on top of the difficult task of tapping Venezuela’s fields, the country’s energy infrastructure has deteriorated significantly over the decades and needs billions of dollars in new investment to become functional at scale.",{"_type":12,"_key":376,"fingerprint":377,"style":15,"listItem":16,"level":17,"markDefs":378,"children":379,"empty":37},"zxE9whfaBfUJ","107-1DE-1E4-25-F-396-6A",[],[380],{"_type":26,"_key":381,"marks":382,"text":383},"JzQY086Geuqf",[],"U.S. refiners are well-positioned to process Venezuela’s heavy crude, but U.S. those plants have been running at near-maximum 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And top administration officials traveled to Caracas in late April to secure memorandums of understanding that laid the groundwork for the kind of deal the president announced Friday.",{"_type":12,"_key":661,"fingerprint":662,"style":15,"listItem":16,"level":17,"markDefs":663,"children":669,"empty":37},"xRHGqWjRKRpf","86-A1-EB-0-89-32B-3C1-2B1",[664,667],{"_type":20,"_key":665,"empty":9,"text":666},"baMo9IuWApol","Brett Erickson",{"_type":20,"_key":668,"empty":9,"text":647},"gmeqTrTU7ZMQ",[670,674,677,681,684],{"_type":26,"_key":671,"marks":672,"text":673},"TllC8BiEGyho",[],"But the prospect of one of the world’s wealthiest countries taking the natural resources of an impoverished country like Venezuela will cause immediate political consequences for the ",{"_type":26,"_key":675,"marks":676,"text":647},"avrO0pJlbT8w",[668],{"_type":26,"_key":678,"marks":679,"text":680},"U04PdjM5b0O2",[]," government, said ",{"_type":26,"_key":682,"marks":683,"text":666},"VUZu6K5hFEO2",[665],{"_type":26,"_key":685,"marks":686,"text":687},"NCqcxCDai05i",[],", managing principal of Obsidian Risk Advisors.",{"_type":12,"_key":689,"fingerprint":690,"style":15,"listItem":16,"level":17,"markDefs":691,"children":695,"empty":37},"tLEygfiwCYb4","333-393-3C7-102-347-FD-1B5-1A6-39A-1D1-237-21F-30B",[692],{"_type":20,"_key":693,"empty":9,"text":694},"VIysvLELhBSl","Erickson",[696,700,703],{"_type":26,"_key":697,"marks":698,"text":699},"UbvzGURMc8hO",[],"“The obvious risk is the people who are already very much struggling will riot and rise up and see this as being a clear raping of their resources, which it is,” ",{"_type":26,"_key":701,"marks":702,"text":694},"VmRDkX95V3Ua",[693],{"_type":26,"_key":704,"marks":705,"text":706},"vM5dtGObbAcu",[]," said. “It doesn’t take a rocket scientist to see that this is a very corrupt deal and completely against the will of the Venezuelan people. These are their natural resources.”",{"_type":12,"_key":708,"fingerprint":709,"style":15,"listItem":16,"level":17,"markDefs":710,"children":714,"empty":37},"pKvoqojz2uPX","99-221-222-26B-239-1DF-1B0-1DD-1DB",[711],{"_type":20,"_key":712,"empty":9,"text":713},"wQbwznyB8A0h","Daniel Di Martino",[715,718],{"_type":26,"_key":716,"marks":717,"text":713},"Bm6C1ay8jAnv",[712],{"_type":26,"_key":719,"marks":720,"text":721},"sOrj9kIaa163",[],", a Venezuelan-born economist and fellow at the Manhattan Institute, a conservative think tank, said the deal will unlock more oil production if it reduces the “uncertainty for oil companies regarding the returns of their investments in Venezuela post-Trump.”",{"_type":12,"_key":723,"fingerprint":724,"style":15,"listItem":16,"level":17,"markDefs":725,"children":729,"empty":37},"Qo7zzLbxas0P","39B-6A",[726],{"_type":20,"_key":727,"empty":9,"text":728},"6nNgHaA4maBR","Delcy",[730,734,737],{"_type":26,"_key":731,"marks":732,"text":733},"mhjdmAhNtErA",[],"“That will be hard-to-impossible to do if ",{"_type":26,"_key":735,"marks":736,"text":728},"tPRiPC7eBt5v",[727],{"_type":26,"_key":738,"marks":739,"text":740},"fFFGSlJ1ozwT",[]," remains in power,” Di Martino said.",{"_type":12,"_key":742,"fingerprint":743,"style":15,"listItem":16,"level":17,"markDefs":744,"children":745,"empty":37},"FRAtY7FYmK2a","156",[],[746],{"_type":26,"_key":747,"marks":748,"text":750},"I384zwsGBstE",[749],"em","James Bikales contributed to this report.",{"title":752,"dek":753,"opinion":9,"breakingNews":9,"contributors":754,"byline":16,"leadMedia":770,"publishDate":778,"updateDate":779,"categories":780,"tags":783,"corrections":798,"majorUpdateDate":16,"subBrand":799,"subBrandUrl":16,"socialMeta":800,"ldjson":806,"paths":807,"language":813},"Trump says US has a deal to take huge stake in Venezuela’s oil reserves","The president said the plan would help replenish U.S. oil reserves and drive down gas prices.",[755,761,766],{"id":756,"fullName":757,"signature":758,"permalink":759,"showThisSignatureOnly":9,"isGuest":9,"slug":760},"0000017d-3a31-df97-a9ff-be7f72b50000","Megan Messerly","","https:\u002F\u002Fwww.politico.com\u002Fstaff\u002Fmegan-messerly","megan-messerly",{"id":762,"fullName":763,"signature":764,"permalink":765,"showThisSignatureOnly":9,"isGuest":9,"slug":16},"0000015a-38ff-dcf0-affb-f8ff70fd0001","Ben Lefebvre","Ben Lefebvre is an energy reporter at Politico.","https:\u002F\u002Fwww.politico.com\u002Fstaff\u002Fben-lefebvre",{"id":767,"fullName":768,"signature":758,"permalink":769,"showThisSignatureOnly":9,"isGuest":9,"slug":16},"0000017d-3a46-df97-a9ff-be7ff4950000","Scott Waldman","https:\u002F\u002Fwww.politico.com\u002Fstaff\u002Fscott-waldman",{"contentType":771,"title":78,"alt":772,"caption":773,"hideCaption":9,"attribution":774,"url":775,"licensorId":776,"licensorName":777,"hasSyndicationRights":9},"image","Donald Trump disembarks Air Force One.","President Donald Trump disembarks Air Force One upon his arrival at Joint Base Andrews, Maryland, on Aug. 28.","Luis M. 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Alvarez\u002FAP\",\"contentUrl\":\"https:\u002F\u002Fwww.politico.com\u002Fdims4\u002Fdefault\u002Fresize\u002F1200x\u002Fquality\u002F90\u002F?url=https:\u002F\u002Fstatic.politico.com\u002F79\u002F33\u002F9f6281f64b81bc52f42819d222cb\u002Ftrump-698-7.jpg\",\"thumbnailUrl\":\"https:\u002F\u002Fprod.politico.com\u002Fdims4\u002Fdefault\u002Fresize\u002F400x\u002Fquality\u002F90\u002F?url=https:\u002F\u002Fstatic.politico.com\u002F79\u002F33\u002F9f6281f64b81bc52f42819d222cb\u002Ftrump-698-7.jpg\"},\"hasPart\":[{\"@type\":\"WebPageElement\",\"cssSelector\":\".public-article-content\",\"value\":\"President Donald Trump announced on Friday that Venezuela agreed to give the U.S. majority of control of more than 65 billion barrels of proven oil reserves in the South American country, a deal he said would more than double U.S. oil reserves and eventually lower gas prices.\\n\\nThe announcement comes amid widespread frustration over high gas prices as a result of the Iran war, which has also depleted the U.S. strategic petroleum reserve.\\n\\n“This Transaction will greatly strengthen the already growing relationship between Venezuela and the United States!” Trumpwrote on Truth Social.\\n\\nThe agreement would cover a fraction of Venezuela’s 300 billion barrels of proven oil reserves. 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