U.S. President Donald Trump has declared that the United States has become the world’s largest oil producer, saying this does not yet include Venezuela’s vast oil reserves, which he claimed have recently been added to the U.S. reserves.
Speaking at a rally in Dallas, Texas, Trump praised a new energy agreement involving Venezuela’s proven oil reserves, estimated at around 65 billion barrels, describing it as potentially “the biggest deal in the history of our country.”
“We are now the biggest in the world, and that’s without Venezuela, which we have just added to our reserves,” Trump said.
The White House has released details of the energy agreement, under which North American Blue Energy Partners (NABEP) would transfer a 35% stake in its parent company to the Pentagon’s Strategic Capital Office at no cost to U.S. taxpayers.
The U.S. State Department would also have the right to purchase 20% of the company’s production at cost.
According to the White House, NABEP has secured 100-year concessions covering 17 oil fields in Venezuela. However, Venezuela’s interim President Delcy Rodríguez previously described the agreement as a 25-year deal.
The White House said the agreement is expected to generate approximately $200 billion in royalties and taxes during its first 25 years. The funds would be used to support Venezuela’s reconstruction and social development.
Trump’s remarks come as his administration seeks to expand U.S. energy interests and strengthen access to strategic resources in the Western Hemisphere, with Venezuela’s enormous oil reserves playing a potentially significant role in that strategy.
