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NewsWPLG Local 10 – Main FeedAugust 29, 2026Miami-Dade

Trump announces agreement with Venezuela for access to oil reserves

President Donald Trump stated on Friday that his administration has reached a deal with Venezuela that could provide the United States with access to 65 billion barrels of untapped oil reserves at cost. The agreement is contingent upon future realization and implementation.

foreign-policyenergyoil-and-gasvenezuelainternational-relations
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Why It Matters

This agreement potentially impacts U.S. energy supply and international trade relations by establishing a framework for accessing significant foreign oil reserves.

Key Facts

  • President Donald Trump announced an agreement with Venezuela on Friday.
  • The agreement involves potential U.S. access to 65 billion barrels of untapped oil reserves.
  • The oil would be provided to the U.S. at cost.
  • The agreement is not yet realized and remains subject to future implementation.

Who's Mentioned

personMarco Rubio“Secretary of State”personHugo Chavez“Former President of Venezuela”other65 billion barrels“The volume of oil reserves involved in the agreement”locationVenezuela“Country entering the oil agreement with the U.S.”personDelcy Rodriguez“Interim President of Venezuela”personNicolás Maduro“Former President of Venezuela”organizationExxonMobil“Largest U.S. oil company”organizationAAA“Source of gas price data”personDarren Woods“CEO of ExxonMobil”locationWashington“Location of the announcement”personPete Hegseth“Defense Secretary”organizationU.S. Energy Information Administration“Source of oil reserve data”personDonald Trump“President of the United States”