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Trump Wins 100-Year Deal for 17 Venezuelan Oil Fields

9/9/2026

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Summary

Story summary

President Donald Trump secured a 100-year oil deal for 17 Venezuelan fields.
The fields contain about 65 billion barrels of proven crude, 1.5 times U.S. reserves.
North American Blue Energy Partners, with a 35% Pentagon equity stake, receives 100-year rights.
China’s foreign ministry warned the pact infringes on its legitimate rights in Venezuela.
Venezuelan opposition and legal scholars deem the deal illegal under the Hydrocarbons Law.

History

Historical Context

The October 1973 OAPEC oil embargo, launched after the U.S. resupplied Israel during the Yom Kippur War, cut shipments to the United States and drove crude imports to 6.2 million barrels per day, while world oil prices jumped nearly 300% by March 1974. That shock spurred Nixon’s Project Independence plan for energy independence and continues to shape today’s long-term energy contracts.

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Story summary

President Donald Trump secured a 100-year oil deal for 17 Venezuelan fields.
The fields contain about 65 billion barrels of proven crude, 1.5 times U.S. reserves.
North American Blue Energy Partners, with a 35% Pentagon equity stake, receives 100-year rights.
China’s foreign ministry warned the pact infringes on its legitimate rights in Venezuela.
Venezuelan opposition and legal scholars deem the deal illegal under the Hydrocarbons Law.

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