US says it has reached deal for majority control of Venezuelan oil reserves
The United States says it has reached an agreement with Venezuela that would give Washington majority control over a substantial portion of the South American country's oil reserves. The announcement, made on Friday, centres on more than 65 billion barrels of proven reserves and involves 17 strategic oil fields. Details of the arrangement have not been made public, and the deal has already drawn criticism as a takeover of Venezuela's resources.President Donald Trump said his government and that of Venezuela's interim president, Delcy Rodriguez, had agreed to the arrangement. In a social media post, he described it as the "biggest... [Continue Reading]
360LiveNews | 30 Aug 2026 01:02 LONDON
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Trump says US-Venezuela oil deal would give Washington majority control of reserves
Trump said the agreement was reached through a partnership with private business and would give the United States majority control of more than 65 billion barrels of proven Venezuelan oil reserves. He said the arrangement would substantially lower gas prices for Americans and described it as a historic transaction. Venezuelan interim president Delcy Rodriguez welcomed the deal, which is expected to bring about $209bn to the state treasury.The announcement follows weeks of negotiations and comes as Venezuelan officials prepare to sign agreements next week granting new oil exploration and production rights to several companies, particularly US firms. Trump said Secretary... [Continue Reading]
360LiveNews | 29 Aug 2026 04:29 LONDON
