Trump announces a "historic" oil deal with Venezuela with concessions to the US private sector of up to a century
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Trump announces a "historic" oil deal with Venezuela with concessions to the US private sector of up to a century

El Periódico Mediterráneo - General29 August 2026 at 01:54

Donald Trump announced on social media an oil agreement with Venezuela, classifying it as the largest in world history. The pact was sealed with the provisional government led by Delcy Rodríguez, which consolidated the White House's positions after the January 3 military intervention that ended Nicolás Maduro's years in power.

According to Trump, the United States guarantees majority control over more than 65 billion barrels of proven oil reserves. This volume represents twice the crude oil reserves existing in American territory itself.

The agreement aims to considerably increase oil supply in the United States and substantially reduce gasoline prices for all Americans in the long term, according to the White House.

One of the proposals contemplates concessions of up to 100 years to the American private sector, according to sources cited by the Bloomberg news agency.

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