Trump administration in talks for stake in Venezuela oil resources

The Trump administration is currently engaged in negotiations with the interim government of Venezuela regarding the acquisition of ownership stakes in the country's oil resources. As reported on August 27, 2026, by Axios, these discussions target over a dozen productive oil fields formerly controlled by Venezuelan officials and Chinese interests, with estimated reserves totaling 90 billion barrels. The move aims to more than double the oil reserves of the United States.

Under the proposed deal, private entities, including American corporations, would be responsible for developing these fields. In exchange for the ownership stake granted to the U.S., these companies would provide direct revenue to the Venezuelan interim government. The negotiations occur in the context of ongoing political changes in Caracas, where the interim administration led by President Rodriguez has been recognized by the U.S. following the detention of former leader Nicolas Maduro.

The White House has not issued an immediate response regarding the status of these ongoing discussions. The deal remains under development as both parties evaluate the transition of control over these strategic assets.