Trump Announces U.S. Role in Venezuela’s Oil Reserves, Expanding Energy and Regional Strategy
On Aug 28, 2026, Trump announced the US would seek majority control of Venezuela’s ~65B barrels of proven oil reserves via partnerships with private firms.
UNITED STATES,POLITICS
Global N Press
8/28/20261 min read
On August 28, 2026, President Donald Trump announced that the United States would seek majority control of development involving Venezuela’s roughly 65 billion barrels of proven oil reserves through partnerships with private companies. The administration said the initiative is intended to revive Venezuela’s oil industry, increase global supplies and help lower energy costs in the United States. Venezuela’s interim President Delcy Rodriguez welcomed the plan, saying it could attract about $100 billion in investment while creating jobs and generating government revenue.
The move represents a significant expansion of U.S. economic involvement in Venezuela’s energy sector and could reshape relations between Washington and Caracas after years of sanctions and political confrontation. The proposed arrangement would involve development of 17 strategic oil fields, including assets in the Orinoco Belt and Lake Maracaibo. However, key details concerning the financial structure, legal framework and implementation remain unclear, and the plan could face regulatory and infrastructure challenges. Its outcome could affect global oil supply, U.S. energy policy and the wider energy balance in Latin America.
