Donald Trump said American interests “secured majority US control” of Venezuela’s oil reserves

President Trump said Friday that American interests had gained a controlling share of more than 65 billion barrels of Venezuela’s confirmed oil deposits, declaring the arrangement would roughly double U.S. reserves and cost taxpayers nothing. The announcement centers on a reported plan involving the Pentagon’s Office of Strategic Capital and Venezuelan investor Alejandro Betancourt to develop oil fields around Maracaibo and extra-heavy crude in the Junin region. The project reportedly aims to produce 1.5 million barrels daily for 25 years, requiring $100 billion in investment and yielding about $209 billion to Venezuela. The report also notes speculation that Caracas could exit OPEC. The deal raises legal and political concerns, including constitutional questions about foreign ownership and the office’s authority.