Trump Announces Deal for 30–50 Million Barrels of Venezuelan Oil, Claims Control Over Sale Proceeds

US President Donald Trump announced a major deal with the Venezuelan regime, under which the United States will receive between 30 and 50 million barrels of oil, potentially worth up to $2 billion. Trump stated that the recent military operation to remove Venezuelan leader Nicolas Maduro was partly aimed at securing access to the South American country’s vast oil reserves.

“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,” Trump posted on Truth Social. He also added, “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!”

Energy Secretary Chris Wright has been tasked with executing the plan, which will involve transporting the oil via storage ships directly to unloading docks in the United States. Trump acknowledged that rebuilding Venezuela’s energy infrastructure will require significant investment but expressed confidence that the US could complete the process within 18 months.

The White House is also organizing a meeting with executives from major US oil companies, including ExxonMobil, Chevron, and ConocoPhillips, to discuss the implementation of the deal. Chevron is expected to gain first access, with other firms slated for future contracts.

Analysts note that US refineries along the Gulf Coast are uniquely equipped to handle Venezuela’s heavy crude, potentially leading to lower gasoline prices for American consumers. Veteran oil expert Tony Franjie said, “Lower gasoline prices, lower airfare – this is going to be great for the US consumer.”

Despite the economic prospects, political and legal challenges remain. Maduro loyalists are contesting US authority, while China and Russia are closely monitoring the situation due to their strategic interests in Venezuelan oil. Trump also confirmed that under the transition, Venezuela’s largest customers, including China, would continue to receive oil.