The Trump administration is negotiating to acquire a majority stake in Venezuelan oil fields, with a potential lease of up to 100 years on assets containing approximately 90 billion barrels of proven reserves. Negotiations are led on the US side by Secretary of State Marco Rubio and Energy Secretary Chris Wright, and on the Venezuelan side by interim president Delcy Rodríguez, following the ousting of Nicolás Maduro in January 2026. The fields in question represent roughly one-third of Venezuela’s 300 billion barrels of proven reserves, making it the world’s largest holder of proven oil reserves. The goal is to increase current production of approximately 1.25 million barrels per day, with a deal potentially materializing as early as September 2026. This operation would represent one of the largest foreign energy investments in the Western Hemisphere.
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