President Donald Trump announced an agreement that would give the United States a 55% effective output share in a venture controlling 65 billion barrels of Venezuelan oil reserves. The venture would cover 17 oil fields in the Orinoco Belt and Lake Maracaibo region, according to a field list reviewed by Reuters. A U.S. official said the United States would receive equity and a right to purchase crude at cost, while Venezuela expects the project to attract $100 billion in private investment and generate $209 billion in tax revenue. Rodríguez’s interim government has granted the venture development rights for 100 years, the official added. The arrangement would be overseen by the Pentagon’s Office of Strategic Capital, which finances projects tied to U.S. national security, though details of its authority have not been released. U.S. officials indicated the company would be formed by the United States and a private operator, with the United States holding 55% of the venture’s effective output. Neither government has disclosed the complete agreement, the name of the private operator, or the exact equity stake held by the United States. The proposal includes a lease and auction model for future field development, and Venezuelan authorities plan to sign exploration and production agreements with several companies next week. Analysts noted that damaged infrastructure, political uncertainty and unresolved legal questions could delay any increase in production. Energy experts said repairs to pipelines, power grids and export facilities would require billions of dollars before the fields could add substantial supply. ExxonMobil CEO Darren Woods described Venezuela as un‑investable in January, and industry executives have expressed concern over expropriation risk and asset condition. Trump said the arrangement would give the United States majority control over more than 65 billion barrels of proven reserves at no cost to American taxpayers. Secretary of State Marco Rubio and Defense Secretary Pete Hegseth negotiated the agreement with Venezuela’s interim President Delcy Rodríguez, according to a Truth Social post. Rubio wrote on X that the project could bring almost $100 billion in private investment, create thousands of jobs and support the rebuilding of Venezuela’s oil industry, while Rodríguez projected $209 billion in tax revenue. The United States could use crude purchased through the venture to replenish the Strategic Petroleum Reserve and meet military needs, a senior official told the Associated Press. U.S. gasoline prices averaged $4.09 per gallon, up from $3.21 a year earlier, according to AAA data. Venezuela holds about 303 billion barrels of proven crude, roughly 17% of global reserves, but currently produces 1.25 million barrels per day after years of sanctions and underinvestment. An increase in Venezuelan output could influence crypto markets if it leads to sustained lower oil and fuel prices, though no evidence currently links the agreement to immediate crypto price movements. Lower energy costs can affect U.S. inflation and give the Federal Reserve more room to adjust interest rates, which in turn influences liquidity for risk assets such as Bitcoin. The July PCE index rose 0.2% monthly and 3.7% annually, with core PCE at 3.3% annually, above the Fed’s 2% target, according to the Bureau of Economic Analysis. Bitcoin fell below $64,000 in July amid rising oil prices and concerns over the Strait of Hormuz, a trend noted in a recent report. Legal analysts question the agreement’s constitutionality, noting that the U.S. government has no precedent for leasing oil fields, and they cite Venezuela’s history of expropriating foreign oil projects. Venezuelan opposition figures have challenged Rodríguez’s authority, arguing that a long‑term concession over national reserves may violate the constitution. Maduro was captured in January, transferred to U.S. custody, and has pleaded not guilty, while his removal preceded the negotiation of the oil agreement. Questions remain about the structure of the partnership, the timeline for production, and how control over the reserves will be exercised under Venezuelan law.