The Daily Journal – The Donald Trump administration is holding advanced talks with Venezuela’s interim government to acquire an equity stake in the South American country’s oil fields under a deal that official sources describe as “massive,” digital news outlet Axios reported Thursday.
If the parties finalize the deal, it would cover more than a dozen producing fields representing 90 billion barrels of proven reserves, effectively doubling U.S. strategic reserves. Former Venezuelan officials — some of whom face charges in U.S. courts — previously controlled the fields in question, along with interests that formerly depended on China, according to the outlet.
In exchange for granting Washington an ownership stake, the Venezuelan government would allow private companies — including U.S. firms — to develop the fields, thereby generating greater oil revenues for the country.
Key players and political context
U.S. Secretary of State Marco Rubio and Venezuela’s interim President Delcy Rodríguez are leading the negotiations. White House Deputy Chief of Staff Stephen Miller also plays a significant role in the talks. Energy Secretary Chris Wright plans to travel to Venezuela next week to advance operational details, although the parties have yet to establish a definitive timetable for signing the agreement.
According to Axios, Trump began privately discussing the possibility of acquiring a stake in Venezuelan oil fields even before he authorized the capture of then-President Nicolás Maduro on January 3, 2026. Maduro faces narco-terrorism charges in New York. The agreement would represent a “legacy-defining moment” for Trump and form part of his doctrine of energy security and dominance in the Western Hemisphere, which the outlet has dubbed the “Donroe Doctrine.”
Sources consulted by Axios said the administration recognizes the potential criticism — including claims that Rodríguez would be “giving away” the country’s natural resources — and maintains that it is making an additional effort to demonstrate how the agreement would benefit the Venezuelan people.
Background
The report comes amid a broader Trump administration strategy toward Venezuela’s oil industry. In January 2026, the president announced that Venezuela would provide the United States with between 30 million and 50 million barrels of oil, with the two sides sharing the profits. That same month, Trump pressed U.S. oil executives to invest in rebuilding Venezuela’s energy infrastructure, while the Energy Secretary said Washington would control Venezuelan oil sales “indefinitely.”
Reactions and reports
Bloomberg, which echoed Axios’ report, said the options under discussion include a 100-year lease on several oil fields. Other sources, including Semana magazine, report that several independent U.S. oil companies are preparing to sign production agreements with Venezuelan state-owned oil company PDVSA in the coming days.
As of press time, neither the White House nor Venezuela’s interim government has officially confirmed the negotiations. The report relies on anonymous U.S. officials, and independent sources have not verified the information.
