A source statement claims President Donald Trump has secured what it calls the “biggest oil deal in world history,” describing an arrangement that would give the U.S. majority control tied to more than 65 billion barrels of proven oil reserves in Venezuela.
The statement frames the deal as a major America First energy move, claiming it would expand access beyond the roughly 46 billion barrels of proven reserves currently attributed to U.S. territory and help increase U.S. oil supply without direct taxpayer cost.
What the statement claims the deal does
According to the source, the agreement was signed by Secretary of State Marco Rubio and Secretary of War Pete Hegseth. It says the deal gives the U.S. government governance rights, economic ownership and low-cost off-take from a new private Venezuelan oil company described as a major reserve holder.
The statement also claims Venezuelan output would be processed through U.S. refineries and supported by American rigs and infrastructure, with the potential to drive billions in U.S. investment and thousands of domestic jobs.
Venezuela, privatization and political transition
The source presents the arrangement as part of a three-phase Trump administration plan for Venezuela: stabilization, reconstruction and democratic transition. It argues that economic recovery must come before elections can be viable.
The statement says the deal involves a private company rather than Venezuela’s interim government and insists there was no political negotiation process with that government.
Claims about foreign influence and oversight
The source says many of the 17 oil fields covered by the deal were previously controlled or operated by Russian and Chinese firms, or by figures linked to Nicolás Maduro and Hugo Chávez. It argues the arrangement would replace those operators with a U.S.-led system.
It also claims new financial monitors, audits and governance protections would be used to keep oil revenue from being misused. Any funds allocated to PDVSA, Venezuela’s state oil company, would reportedly pass through a U.S.-managed and audited account.
Promised impact on U.S. gas prices
The statement says the private company involved already produces 250,000 barrels of oil per day and claims that, because of off-take rights, production could begin moving to the United States as soon as early next year.
It further claims at-cost oil would begin flowing to the market by the end of the year, with the stated goal of helping reduce gas prices for Americans.
Those claims, including the scale of the reserves, the identity and legal status of the parties, the timeline for production and the expected effect on prices, should be independently verified before publication.
