US Secures 50 Million Barrels of Venezuelan Oil for $5.2 Billion
US President Donald Trump announced that Venezuela has offered Washington “50 million barrels of oil” valued at $5.2 billion, and he has agreed to that deal. Trump remarked, “We’re dealing with the new President.” We are engaging with numerous individuals in positions of authority… They stated, “We possess 50 million barrels of oil, and it must be processed without delay due to a lack of storage capacity.” Will you accept it? I stated, “we will accept it. It amounts to $5.2 billion.”
Trump further praised the “great relationship” with the Venezuelan interim government, which was established following the US capture of former Venezuelan President Nicolas Maduro in a military operation. We have upheld a robust connection with the individuals presently serving as Interim President and all others engaged. “A lot of pressure has been released,” he stated. After Maduro’s capture, Trump clearly articulated that Washington would “run” Venezuela during a transition and demanded “total access… to the oil and to other things in their country.”
Trump’s remarks further validate a recent report, which states that the US has completed its inaugural sale of Venezuelan oil, amounting to $500 million. The Semafor report indicates that revenue from oil sales is currently maintained in bank accounts monitored by the US government, as highlighted in Friday’s order, according to an administration official. A second senior administration official indicated that the primary account is located in Qatar. A report indicates that Venezuela holds a staggering 303 billion barrels of crude oil, representing about one-fifth of the global total reserves, as noted by the US Energy Information Administration.
Trump has previously stated his intention to mobilize major U.S. oil companies to invest billions in repairing Venezuela’s damaged oil infrastructure. “We are going to have our very large United States oil companies go in, spend billions of dollars, fix the badly broken oil infrastructure and start making money for the country,” Trump said. On Wednesday, Trump participated in a “long call” with Venezuela’s interim president, Delcy Rodriguez. In a post on Truth Social, Trump remarked, “This partnership between the United States of America and Venezuela will be a spectacular one FOR ALL. Venezuela will soon be great and prosperous again, perhaps more so than ever before!” he added. Rodriguez described the call as “long, productive and courteous,” highlighting that they engaged in discussions regarding a bilateral agenda aimed at benefiting both nations.
