A Potential Stake in Venezuelan Oil
The Trump administration is nearing an agreement with Venezuela’s interim government over several productive oil fields. According to two U.S. officials, the proposed arrangement would give the United States an ownership stake in those resources. The fields under discussion contain 90 billion barrels of proven reserves. They represent only part of Venezuela’s much larger oil base, yet officials describe the possible deal as massive.
In return, Venezuela would receive help from private companies, including American firms, to develop the fields. That investment could restore production and direct more oil revenue back to the country. However, the precise terms are still being negotiated, and the timetable for completing the agreement remains uncertain.
Energy Security and Political Stakes
Meanwhile, wars in Iran and Ukraine have disrupted global supplies and increased oil prices. These pressures have added urgency to the talks. The article also notes that the U.S. Strategic Petroleum Reserve is at a 40-year low. Administration officials therefore present the proposed partnership as a way to strengthen long-term energy security across the Western Hemisphere.
For President Donald Trump, the agreement could become a defining part of his energy legacy. His administration has placed regional energy dominance at the center of its so-called “Donroe Doctrine.” Trump had privately considered a U.S. stake in Venezuelan fields even before authorizing the January 3 capture of Nicolás Maduro, who now faces narco-terrorism charges in New York.
Negotiations and the Road Ahead
Secretary of State Marco Rubio and Venezuela’s acting president, Delcy Rodríguez, have led the negotiations. Senior officials from the U.S. State and Defense departments met with Venezuelan counterparts in Caracas last month to discuss details. Deputy White House Chief of Staff Stephen Miller has also taken a major role in the process.
Still, Washington recognizes the political sensitivity of Venezuela granting the United States access to national resources. One official said the administration is emphasizing benefits for Venezuelans, especially investment and greater oil revenue. Energy Secretary Chris Wright is considering a visit to Venezuela next week as his department explores how U.S. companies could raise production.
References
Caputo, M. (2026, 27 agosto). U.S. close to striking “massive” deal for Venezuelan oil fields. Axios. https://www.axios.com/2026/08/27/trump-venezuela-oil-deal-talks