President Donald Trump announced a deal that would give the United States a stake in Venezuela’s oil reserves, described as potentially the largest oil agreement in world history. The White House provided limited details beyond a social media post.

The agreement follows the January capture of former President Nicolás Maduro and his transfer to New York on drug trafficking charges. Acting President Delcy Rodríguez said the arrangement aims to modernize Venezuela’s oil sector and support economic recovery.

A new company will receive rights to 17 oil fields with a proven potential of 65 billion barrels. The deal could attract $100 billion in investment and generate more than $209 billion in taxes for Caracas. The United States would hold a 55 % effective interest, including an ownership stake and a right to purchase oil at cost. Purchases would be directed to the strategic petroleum reserve and to the military, according to an anonymous U.S. official. The company would rank as the second‑largest holder of proven reserves after Saudi Aramco.

The text of the agreement has not been released, and it is unclear who will finance the required infrastructure, who the private operator will be, and how the United States’ stake will be divided between ownership and cost‑based purchasing rights. Analysts say increased production will be gradual because of Venezuela’s deteriorated infrastructure, and they doubt any near‑term impact on U.S. gasoline prices.

Senator Bernie Moreno (R‑Ohio) called the deal historic and said it would benefit both nations. Democrats criticized the arrangement; Senator Tim Kaine (D‑Va.) said Trump pursued oil for his billionaire supporters and questioned any effect on gasoline prices, while Senator Chris Van Hollen (D‑Md.) asserted that the president risked service members to secure oil for his associates. Venezuelan citizens expressed concern that the deal violated long‑standing claims that the country’s resources belong to its people. Harvard professor Ricardo Hausmann described the agreement as “shameful” and said it lacked legitimacy.

Key unanswered questions include who will cover the investment costs, the identity of the private partner, and the precise breakdown of the United States’ 55 % interest.

The agreement could potentially double U.S. oil reserves and reduce reliance on Canadian and Mexican crude, but its long‑term effect on gasoline prices and Venezuelan politics remains uncertain.