The American Secretary of State, Marco Rubio, announced on the social media network X that a new oil agreement will bring approximately 100 billion dollars to Venezuela, classifying it as a major achievement for both the American and Venezuelan people.
Rubio stated that this agreement will attract nearly 100 billion dollars in private investment for the Venezuelan population, in addition to supporting thousands of well-paid jobs and fostering the country's economic recovery.
The diplomat also highlighted that this initiative reflects President Donald Trump's bold foreign policy, aligned with the 'America First' principle, aiming to secure stable reserves and low-cost oil in the American hemisphere, contributing to reducing gasoline prices in the US.
Hours earlier, Trump announced that the United States (US) had sealed a pact with Venezuela to take control of 65 billion barrels of the South American nation's oil reserves.
In a post on the Truth Social platform, Trump emphasized that the negotiation was conducted by Marco Rubio, Secretary of Defense Pete Hegseth, and interim Venezuelan President Delcy Rodríguez. The Republican president declared that the US had just closed the largest oil deal in world history with Venezuela.
He added that this historic transaction not only doubles the United States' oil reserves but also significantly increases oil supply and will considerably decrease gasoline costs for all Americans in the long run.
Before the official announcement, the American press, including the Wall Street Journal (WSJ), reported on an imminent agreement involving Chevron, the main operator in Venezuela, and other oil companies willing to invest billions of euros in the country's fields.
Halliburton, an oil services company, is also involved in discussions coordinated by the Pentagon and the State Department. According to the WSJ, executives from various corporations are expected to sign a production agreement next week in Caracas, and Energy Secretary Chris Wright is expected to visit the Latin American country.
However, the newspaper reported that ExxonMobil and ConocoPhillips are not yet part of the negotiations.
This announcement comes almost nine months after the American Armed Forces, following Trump's orders, carried out an operation to detain Venezuelan President Nicolás Maduro and transport him to the US to answer federal accusations of narco-terrorism and drug trafficking.
Trump faces growing pressure due to high gasoline prices, while the war in Iran has dragged on for six months with no foreseeable end. US strategic petroleum reserves fell below 300 million barrels at the beginning of August, representing a drop of over 100 million barrels since the beginning of 2026.
Venezuela holds one of the world's largest reserves, estimated at 303 billion barrels of crude oil, which accounts for about 17% of the global supply, according to data from the US Energy Information Administration. Experts point out that, unlike other regions, Venezuelan underground reserves are widely mapped, but the country produces only about 1% of the world's oil due to its precarious infrastructure.