Hot Topic Review: The United States Announces Control Over Venezuela's 65 Billion Barrels of Oil Reserves, Legal and Infrastructure Barriers May Hinder Investment

智通财经2026/08/31 01:16

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Last Friday, U.S. President Trump announced that the United States has, through cooperation with enterprises, obtained "majority control" over more than 65 billion barrels of proven oil reserves in Venezuela at "zero cost," marking the largest-ever U.S. acquisition of foreign energy resources. This agreement aims to provide the U.S. with a stable source of crude oil supply and help lower domestic fuel prices. Prior to this, the U.S. and Venezuela had conducted several weeks of negotiations regarding the arrangement.
Under the framework of the agreement, U.S. companies will receive long-term mining rights for a number of Venezuelan oil fields, ensuring that the related crude oil will be prioritized for the U.S. market. Venezuelan officials are preparing to sign the agreement next week, granting new oil exploration and production rights to multiple companies—especially U.S. enterprises. According to sources, both sides are considering a leasing model and may auction related oil fields to U.S. producers.
U.S. Secretary of State Rubio described the agreement as a win-win for both countries. He stated that the deal will ensure the United States a stable and low-cost oil supply, helping to reduce gasoline prices; for Venezuela, it will bring nearly $100 billion in private investment, create thousands of high-paying jobs, and help rebuild the country’s economy. However, Trump did not disclose the specific structure of the agreement, the oil fields and companies involved, or how the U.S. will exercise "majority control."
Analysts pointed out that the agreement could face legal and constitutional challenges since Venezuelan law stipulates that the state retains control over the core operations of the oil industry. The president of Goldwyn Global Strategies noted, "There is no precedent for the U.S. government operating oil fields through lease arrangements," and highlighted ongoing issues such as Venezuela's political uncertainty, inadequate power grid and export infrastructure, and the government's broad discretionary powers in the sector. It remains uncertain whether the agreement can substantially accelerate investment.
As for whether the agreement can lower gasoline prices in the short term, the outlook remains unclear. Building the infrastructure needed to produce, transport, and refine Venezuela’s heavy crude may take several years, and more information about the agreement’s legal and financial structure is needed before assessing whether it can attract large-scale investment.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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