President Donald Trump and interim Venezuelan leader Delcy Rodríguez announced a historic oil agreement on August 29, 2026. The pact grants U.S. energy companies majority operational control over 17 strategic fields holding more than 65.000 millones de barriles of proved reserves, marking a massive shift in hemispheric energy policy.
The United States and Venezuela have closed what is officially being called the largest petroleum deal in world history. The agreement grants American energy companies control over roughly 21.5% of Venezuela’s total proved crude reserves, which the Energy Information Administration estimates at approximately 303.000 millones de barriles. The transaction covers 17 strategic fields and unlocks access to 65.000 millones de barriles of proved reserves.
Según ha detallado la presidenta encargada de Venezuela, Delcy Rodríguez, la operación contempla el desarrollo conjunto de 17 campos estratégicos e implicará una inyección de capital extranjero superior a los 100.000 millones de dólares.
Según el propio Donald Trump, se trata del «mayor acuerdo petrolero en la historia mundial». «Bajo mi dirección, el Secretario de Estado Marco Rubio, y el Secretario de Guerra Pete Hegseth, trabajando estrechamente con la Altamente Respetada Presidenta Interina de Venezuela, Delcy Rodríguez, y, a través de una asociación con el sector empresarial privado, han asegurado el control mayoritario de los Estados Unidos sobre más de 65.000 millones de barriles de reservas probadas de petróleo
According to reporting by the BBC, the deal was negotiated directly by U.S. Secretary of State Marco Rubio and Secretary of War Pete Hegseth alongside interim Venezuelan President Delcy Rodríguez and private operators. The pact aims to significantly boost production from fields that have suffered from years of underinvestment and infrastructure decay.
Volume, Reserves, and the U.S. Energy Balance
The scale of the Venezuelan arrangement dwarfs current domestic American holdings. The 65.000 millones de barriles under U.S. operational control more than double the proved crude and condensate reserves of the United States, which stood at 46.000 millones de barriles at the close of 2024 according to the Administration of Information Energética.
También equivaldrían al 141% de las reservas probadas de crudo y condensado de Estados Unidos, que ascendían a 46.000 millones de barriles al cierre de 2024, según la misma agencia.
:format(jpg):quality(99):watermark(f.elconfidencial.com/file/65c/43d/0ca/65c43d0ca5dbd5ff8f19b44167343db9.png,0,275,1)/f.elconfidencial.com/original/f27/9fe/3ab/f279fe3ab0d0575050750db75e0158e3.jpg "Photo: El Confidencial")
Washington’s Strategic Petroleum Reserve has dropped to 41% of capacity—its lowest level in four decades—following supply disruptions and blockades connected to the conflict involving Iran and the Strait of Ormuz. Against that backdrop of strained supplies and high fuel costs, the administration presents the Venezuelan venture as a direct relief valve for American drivers.
La histórica transacción más que duplica las reservas petroleras de Estados Unidos, aumenta considerablemente nuestro suministro de petróleo y reducirá sustancialmente los precios de la gasolina para todos los estadounidenses a largo plazo.
Administration officials insist the arrangement will incur no cost for American taxpayers, relying entirely on private capital investment rather than direct federal spending.
Caracas Infrastructure Overhaul and Financial Projections
From the perspective of Caracas, the agreement represents a cornerstone for economic rehabilitation. Delcy Rodríguez confirmed that private operators will spearhead the development of the 17 designated fields.
Financial projections released alongside the announcement outline massive capital commitments. The Chavista leader, heading the Venezuelan government following the U.S. capture of Nicolás Maduro in January of this year, asserted that the agreement, previously announced by Trump, would considerably increase oil production with the participation of private operators.
La mandataria expresó que el convenio fue suscrito gracias al fortalecimiento de la relación
entre Caracas y Washington, que rean
The initiative contemplates a 100-year lease arrangement designed to provide long-term security for participating foreign enterprises. State revenue expectations are similarly ambitious.
In that regard, Rodríguez explained that the development of 17 strategic fields is contemplated, featuring a proved potential of 65 billion barrels of oil, an investment of more than 100 billion dollars, and more than 209 billion dollars in taxes for the State.
Officials report that national production has already climbed to 1.23 million barrels per day, reaching its highest level since February 2019.
Geopolitical Realignment and Market Realities
El día de la captura de Nicolás Maduro el 3 de enero, el presidente de Estados Unidos, Donald Trump, adelantó que las energéticas estadounidenses entrarían en el país sudamericano para explotar la industria petrolera de Venezuela.
Casi nueve meses después, los dos países anuncian un acuerdo histórico por el que Washington controlará más del 20 % de las reservas de crudo venezolano.
El millonario acuerdo anunciado, tras meses de negociaciones, en torno a un sector estratégico clave, cimenta la relación entre las dos Administraciones.
Major multinational operators are moving quickly to position themselves within the newly opened market. Antes del anuncio oficial, medios estadounidense como el Wall Street Journal (WSJ), apuntaban este viernes a un inminente acuerdo con la energética Chevron, y con otras petroleras para invertir miles de millones de dólares en yacimientos del país sudamericano.
Despite the high-level enthusiasm, technical hurdles remain formidable.
