Donald Trump has revealed a new agreement with the Venezuelan government, securing a supply of 30 to 50 million barrels of oil for the United States. This announcement comes on the heels of a recent military initiative aimed at ousting Venezuelan leader Nicolas Maduro, with Trump’s administration partly targeting the nation’s vast oil reserves.
In a social media post on Truth Social, Trump expressed satisfaction over the arrangement, stating, “I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America.”
Delcy Rodriguez, who previously served under Maduro as Minister of Petroleum and Hydrocarbons, now acts as the Interim President in Venezuela. This leadership change has paved the way for the new oil deal with the U.S.
Further detailing the financial aspects of the deal, Trump declared his intention to oversee the proceeds from the oil sales. “This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!” he announced.
Trump also announced that he will be in control of the money made off sales of the oil.
‘This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!’
Trump has placed Energy Secretary Chris Wright in charge of executing the plan which is scheduled to begin immediately.
‘It will be taken by storage ships, and brought directly to unloading docks in the United States,’ he wrote.
Donald Trump announced a deal with the Venezuelan regime to give the United States 30 to 50 million barrels of oil.
The president has openly stated that the military operation to depose leader Nicolas Maduro this past weekend was, in part, an attempt to extract some of oil-rich Venezuela’s stock
Separately, the White House is organizing an Oval Office meeting Friday with oil company executives regarding Venezuela, with representatives of Exxon, Chevron and ConocoPhillips expected to attend, according to a person familiar with the matter who requested anonymity to discuss the plans.
The Daily Mail has reached out to Secretary Wright for comment.
Trump said Monday it will cost ‘a lot of money’ to rebuild the South American country’s energy infrastructure but thinks the US can do it ahead of that 18 month timeline.
However, he added that the American taxpayers may be on the hook for it, as the oil companies may receive assistance to do so.
‘I think we can do it in less time than that, but it’ll be a lot of money,’ he told NBC News.
‘A tremendous amount of money will have to be spent and the oil companies will spend it, and then they’ll get reimbursed by us or through revenue.’
When asked if Trump’s ‘America First’ base would stand for nation-building overseas, the president backed himself to maintain the support of his voters.
‘MAGA loves it. MAGA loves what I’m doing. MAGA loves everything I do. MAGA is me. MAGA loves everything I do, and I love everything I do, too,’ he said.
Trump also announced that he will be in control of the money made off sales of the oil
Separately, the White House is organizing an Oval Office meeting Friday with oil company executives regarding Venezuela, with representatives of Exxon, Chevron and ConocoPhillips expected to attend, according to a person familiar with the matter who requested anonymity to discuss the plans
Trump also told NBC News that the project could take the next 18 months before Venezuelans elect a new president.
‘We have to fix the country first. You can’t have an election. There’s no way the people could even vote,’ Trump said.
‘No, it’s going to take a period of time. We have — we have to nurse the country back to health.’
Venezuela holds 303 billion barrels of proven oil – nearly a fifth of the global total – most of it heavy, sour crude locked in the Orinoco Belt.
Yet years of mismanagement, corruption, and US sanctions have slashed production from 3.5million to 1.1 million barrels per day, less than 1 percent of global supply.
The Trump administration has made clear that oil sits at the center of Washington’s Venezuela strategy, after the sensational arrest of Maduro.
Chevron is expected to gain first access, with ExxonMobil and ConocoPhillips promised future contracts.
If production ramps steadily, the impact on American households could be substantial over the coming years, according to veteran oil expert Tony Franjie.
Cheaper crude lowers transportation costs, easing airline tickets, trucking, and groceries.
‘Lower gasoline prices, lower airfare – this is going to be great for the US consumer,’ said Franjie, a 26-year energy industry analyst at Texas-based SynMax Intelligence.
Franjie forecasts crude could fall below $40 a barrel and gasoline could dip to around $2.50 a gallon, down from $2.80.
The type of oil in Venezuela is thick, dirty and expensive to process – but that is where Franjie sees America’s edge.
‘The US Gulf Coast refineries were built around Venezuelan crude,’ he said. ‘They’re better than any other refineries in the world at handling that heavy Venezuelan crude.’
These facilities, designed decades ago for Venezuela’s oil, could pivot back quickly from Canadian crude and shale if margins are favorable.
Analysts agree that a full revival will require billions of dollars and years of work. Pipelines are rusting. Facilities are degraded. Skilled workers fled long ago.
Political risks remain huge. Acting Venezuelan president Delcy Rodríguez has asserted herself as a power broker in Caracas.
Maduro loyalists are contesting US authority. International lawyers are questioning the legality of Washington’s intervention, while leaders in Mexico, Colombia and Brazil have branded it destabilizing.
China and Russia are watching closely. Both have deep strategic interests in Venezuelan oil. Any redirection of exports away from Beijing and toward the US Gulf Coast could reshape global energy flows.
Trump said on Saturday that an ‘oil embargo’ on Venezuela was in full force, but added that under an incoming transition Venezuela’s largest customers, including China, would keep receiving oil.
This is a developing story.
