The United States has secured majority control over more than 65 billion barrels of Venezuelan crude through a private joint venture with 100-year concessions. National security advisor Marco Rubio and Defense Secretary Pete Hegseth played central roles in the negotiations. The deal projects over 100 billion dollars in private investment and 209 billion dollars in tax revenue for Caracas. Venezuela, whose production has dropped to 1.25 million barrels per day from 3 million at its peak, saw this agreement come after the ouster of Nicolás Maduro in January 2026. No official text has been released, leaving revenue-sharing details and environmental standards undisclosed.
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