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Back to stories
3 sourcesAug 29, 2026

Trump says US is taking partial control of Venezuela's vast oil reserves

President Donald Trump on Friday announced an ​unprecedented U.S. push to take control of a fifth of Venezuela's vast oil reserves, betting that American companies can revive the OPEC nation's battered energy ‌industry while delivering a new source o

Hiru News - English•Aug 29, 2026
US announces control over majority of Venezuela's oil reserves
By Hiru News English
Read full article

Summary

had secured majority control of more than 65 billion barrels of Venezuela's proven oil reserves through a partnership with private business. role in Venezuela's oil industry as the Trump administration seeks to revive the country's production and secure more crude for U.

Summarised from Hiru News - English

What this story is about

People
  • Delcy Rodriguez3
  • Donald Trump3
  • Pete Hegseth3
  • Marco Rubio3
  • Nicolas ⁠Maduro
  • David Goldwyn
Organisations
  • Reuters2
  • OPEC2
  • Goldwyn Global Strategies
  • Reuters news agency
  • United Nations
Places
  • United States3
  • Venezuela3
  • United States.Venezuelan
  • Lake Maracaibo
  • US.Venezuelan
  • Orinoco Belt
  • Caracas
Keywords
  • oil3
  • announces2
  • reserves2
  • control2
  • vast2
  • battered
  • majority
  • reviving
  • biggest
  • history

Names and places drawn from every article in this story. The number shows how many of them mentioned it.

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Also reported by

3 newsrooms have reported this story

  • Trump announces ‘biggest oil deal in world history’ with VenezuelaThe Island·Aug 29, 2026
  • Trump says US is taking partial control of Venezuela's vast oil reservesAda Derana·Aug 29, 2026
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