Story perspectives

Trump Deal Gives U.S. Control of 65 Billion Barrels

9/7/2026

Center

Trump Secures Oil

U.S. President Donald Trump announced a deal giving United States control of 65 billion barrels of Venezuelan oil at an Aug. 31 Oval Office event.
The agreement gives the Pentagon a 35% equity stake in North American Blue Energy Partners, an ownership structure unprecedented for a U.S. government.
The State Department secured a 20% purchase right at cost.
First-refusal on the other 80% and 100-year concessions for 17 fields were also obtained.

Left

Trump Gains Oil

U.S. President Donald Trump announced a deal giving the United States control over 65 billion barrels of Venezuelan oil at an August 31 Oval Office event.
The coverage emphasizes that the agreement erodes Venezuela’s sovereignty and jeopardizes its fiscal stability.
Oil revenue control shifts to the U.S. Treasury, leaving no Venezuelan body to protect interests.
Oil minister Rafael Ramírez said the $200 billion estimate reflects a 3.7 percent royalty, far below rates.

History

Historical Context

In March 2003 the United States led a coalition that invaded Iraq, quickly toppling Saddam Hussein’s regime and installing the Coalition Provisional Authority to govern the country. That precedent of seizing energy assets underpins President Donald Trump’s August 31, 2024 announcement that the Pentagon will claim ownership of Venezuela’s oil reserves, reflecting a recurring U.S. pattern of using oil to project power.

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Trump Secures Oil

U.S. President Donald Trump announced a deal giving United States control of 65 billion barrels of Venezuelan oil at an Aug. 31 Oval Office event.
The agreement gives the Pentagon a 35% equity stake in North American Blue Energy Partners, an ownership structure unprecedented for a U.S. government.
The State Department secured a 20% purchase right at cost.
First-refusal on the other 80% and 100-year concessions for 17 fields were also obtained.

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