<p>US President Donald Trump on Friday (Aug 28) announced that his administration had struck what he described as a massive oil agreement with Venezuela that would give the United States majority control of 65 billion barrels of the country's proven petroleum reserves.</p><p>Trump called it "the biggest oil deal in world history", while US Secretary of State Marco Rubio said the arrangement would bring nearly $100 billion in private investment into Venezuela.</p><p>The Venezuelan government had not immediately confirmed the deal.</p><p><strong>Also read | </strong><a href="https://www.wionews.com/world/wion-decodes-two-thirds-of-ships-crossing-hormuz-are-now-dark-what-does-that-mean-1787645012571"><strong>WION Decodes: Two-thirds of ships crossing Hormuz are now 'dark'. What does that mean?</strong></a></p><h2><strong>Trump says deal will boost US oil reserves</strong></h2><p>Announcing the agreement on Truth Social, Trump said the arrangement would more than double US oil reserves. He said Rubio and US Defense Secretary Pete Hegseth had reached the agreement with Venezuelan interim leader Delcy Rodriguez through a partnership involving private companies.</p><p>"This Transaction will greatly strengthen the already growing relationship between Venezuela and the United States!" Trump wrote.</p>

<p>Rubio said the agreement was another example of Trump's "America First" approach. "For the Venezuelan people, this deal will bring nearly $100 billion in private investment, support thousands of high-paying jobs, and drive the reconstruction of Venezuela's economy," Rubio wrote on X.</p><p><strong>Also read | </strong><a href="https://www.wionews.com/world/trump-s-women-problem-white-women-abandoning-republicans-ahead-of-2026-midterms-shows-report-1787906287196"><strong>Trump's women problem? White women abandoning Republicans ahead of 2026 midterms, shows report</strong></a></p><p>He also said the deal would secure stable reserves and low-cost oil in the Western Hemisphere while helping bring down gasoline prices in the US.</p>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">This deal is a huge win for both the American and Venezuelan people.<br><br>It demonstrates how President Trump&#39;s bold foreign policy is driving America First wins: securing stable reserves and low-cost oil in our Hemisphere and lowering gas prices here at home.<br><br>For the Venezuelan… <a href="https://t.co/SMSRYGWmVb">https://t.co/SMSRYGWmVb</a></p>&mdash; Secretary Marco Rubio (@SecRubio) <a href="https://x.com/SecRubio/status/2093472965404860812?ref_src=twsrc%5Etfw">August 28, 2026</a></blockquote> <script async src="https://platform.x.com/widgets.js" charset="utf-8"></script>

<h2><strong>Deal follows talks over major Venezuelan oil fields</strong></h2><p>The announcement follows reports that Washington and Caracas had been discussing a much larger arrangement involving Venezuelan oil production.</p><p>Previously, Axios reported that the two countries were negotiating over a dozen productive oil fields holding around 90 billion barrels of proven reserves, or roughly a third of Venezuela's total proven reserves of 300 billion barrels.</p><p>Under the reported structure, private companies, including US firms, would receive ownership stakes and develop the fields, with more oil revenue flowing back to Venezuela.</p><p>Trump's announcement referred to majority control of 65 billion barrels of proven reserves, but the material provided does not explain how that figure relates to the previously reported 90 billion barrels.</p><p>The deal also comes after the US ousted and captured longtime Venezuelan leader Nicolas Maduro in January. His former vice president, Delcy Rodriguez, remained as interim leader on condition that she cooperate with Washington.</p><p>&nbsp;</p>

Donald Trump says the US has secured a massive new oil deal with Venezuela. He has described it as the biggest in history, but what exactly does Washington get, and what does Caracas stand to gain? All details below.

US President Donald Trump on Friday (Aug 28) announced that his administration had struck what he described as a massive oil agreement with Venezuela that would give the United States majority control of 65 billion barrels of the country's proven petroleum reserves. Trump called it "the biggest oil deal in world history", while US Secretary of State Marco Rubio said the arrangement would bring nearly $100 billion in private investment into Venezuela. The Venezuelan government had not immediately confirmed the deal. Also read | WION Decodes: Two-thirds of ships crossing Hormuz are now 'dark'. What does that mean? Trump says deal will boost US oil reserves Announcing the agreement on Truth Social, Trump said the arrangement would more than double US oil reserves. He said Rubio and US Defense Secretary Pete Hegseth had reached the agreement with Venezuelan interim leader Delcy Rodriguez through a partnership involving private companies. "This Transaction will greatly strengthen the already growing relationship between Venezuela and the United States!" Trump wrote.

<p>Donald Trump says the US has secured a massive new oil deal with Venezuela. He has described it as the biggest in history, but what exactly does Washington get, and what does Caracas stand to gain? All details below.</p>

Trump claims 'biggest oil deal in world history' with Venezuela, says US will control majority of 65 billion barrels

<p>Venezuelan interim leader Delcy Rodrigues on Thursday expressed her gratitude to Indian Prime Minister Narendra Modi for his offer of “all possible assistance” to the nation following the devastating twin earthquakes that struck the region, stating that India's "solidarity" aligns perfectly with the “spirit of cooperation”. Caracas was struck by two earthquakes of 7.2 and 7.5 &nbsp;magnitude on Wednesday evening, June 24, 2026, at approximately 6:00 PM local time. Official report confirms the deaths of at least 164 people and injuring 1000 other. La Guaira State has been declared the epicentre of the tragedy and has been reduced to rubble.&nbsp;</p><p>“We warmly welcome the remarks by Prime Minister Narendra Modi, who expressed his condolences and the Republic of India's willingness to support relief efforts in the wake of the severe consequences of the earthquakes that struck our country,” said Venezuela acting President Delcy Rodrigues, responding to Prime Minister Modi's post on the Social Media platform X.</p><p><strong>Also Read: </strong><a href="https://www.wionews.com/world/anthropic-accuses-alibaba-ai-model-distillation-attack-claude-1782377405436"><strong>Anthropic accuses Alibaba of massive AI model extraction campaign using 25,000 fake accounts</strong></a></p><p>She continued, “The solidarity expressed by India is in keeping with the spirit of cooperation between our people in times of difficulty. We acknowledge these expressions of international support and are grateful for the expression of solidarity we have received."&nbsp;</p><p>Prime Minister Modi, following the earthquake on Thursday morning in local time, expressed deep sorrow, "Deeply saddened by the devastation caused by the severe earthquakes in Venezuela... India stands ready to extend all possible assistance."</p><p>Two small earthquakes of 4.4 and 4.5 magnitude have been recorded since the two big quakes, both near Caracas. Venezuela's neighbouring countries, the United States and several Latin American countries have said that they would send rescue personnel. The German Military has also offered as many as six Airbus A400M transport aircraft on short notice, as and when required for relief efforts in Venezuela.&nbsp;</p>

<blockquote class="twitter-tweet"><p lang="es" dir="ltr">Recibimos con aprecio las palabras del primer ministro Narendra Modi, quien expresó sus condolencias y la disposición de la República de la India de acompañar los esfuerzos de atención tras las graves consecuencias de los sismos que sacudieron a nuestro país. <a href="https://t.co/lrXZcSJc1D">https://t.co/lrXZcSJc1D</a></p>&mdash; Delcy Rodríguez (@delcyrodriguezv) <a href="https://x.com/delcyrodriguezv/status/2070025167313482235?ref_src=twsrc%5Etfw">June 25, 2026</a></blockquote> <script async src="https://platform.x.com/widgets.js" charset="utf-8"></script>

Venezuelan acting President Delcy Rodrigues thanked Prime Minister Narendra Modi for offering assistance after twin earthquakes struck near Caracas, killing at least 32 people and injuring hundreds.

Venezuelan interim leader Delcy Rodrigues on Thursday expressed her gratitude to Indian Prime Minister Narendra Modi for his offer of “all possible assistance” to the nation following the devastating twin earthquakes that struck the region, stating that India's "solidarity" aligns perfectly with the “spirit of cooperation”. Caracas was struck by two earthquakes of 7.2 and 7.5 magnitude on Wednesday evening, June 24, 2026, at approximately 6:00 PM local time. Official report confirms the deaths of at least 164 people and injuring 1000 other. La Guaira State has been declared the epicentre of the tragedy and has been reduced to rubble. “We warmly welcome the remarks by Prime Minister Narendra Modi, who expressed his condolences and the Republic of India's willingness to support relief efforts in the wake of the severe consequences of the earthquakes that struck our country,” said Venezuela acting President Delcy Rodrigues, responding to Prime Minister Modi's post on the Social Media platform X. Also Read: Anthropic accuses Alibaba of massive AI model extraction campaign using 25,000 fake accounts She continued, “The solidarity expressed by India is in keeping with the spirit of cooperation between our people in times of difficulty. We acknowledge these expressions of international support and are grateful for the expression of solidarity we have received." Prime Minister Modi, following the earthquake on Thursday morning in local time, expressed deep sorrow, "Deeply saddened by the devastation caused by the severe earthquakes in Venezuela... India stands ready to extend all possible assistance." Two small earthquakes of 4.4 and 4.5 magnitude have been recorded since the two big quakes, both near Caracas. Venezuela's neighbouring countries, the United States and several Latin American countries have said that they would send rescue personnel. The German Military has also offered as many as six Airbus A400M transport aircraft on short notice, as and when required for relief efforts in Venezuela.

<p>Venezuelan acting President Delcy Rodrigues thanked Prime Minister Narendra Modi for offering assistance after twin earthquakes struck near Caracas, killing at least 32 people and injuring hundreds.</p>

'Spirit of cooperation' :Venezuela thanks PM Modi for offering assistance after deadly Caracas earthquakes

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Trump claims 'biggest oil deal in world history' with Venezuela, says US will control majority of 65 billion barrels

Venezuela thanks PM Modi for offering assistance after Caracas earthquakes