00:00What does the new oil agreement between the United States and Venezuela really mean?
00:04Beyond Trump's announcement, these are the key points to understand it.
00:07The United States and Venezuela sealed an oil agreement that could profoundly change the landscape.
00:12The relationship between the two countries. Donald Trump called it the biggest oil deal ever.
00:17of world history and assured that it will allow American companies to have control
00:21majority stake over more than 65 billion barrels of proven oil reserves
00:26Venezuelan. The announcement represents a considerable opening of Venezuelan industry to capital
00:30American private sector and a shift in the relationship that both countries maintained during
00:35the last few years. The agreement was announced by Trump on August 28, 2026, after
00:39that Washington and Caracas would make progress in normalizing their relations. According to the
00:44The US president said it was an alliance with the private sector in which the following participated:
00:48various oil companies and that it was negotiated by officials of his administration with the
00:52interim government of Delsi Rodríguez. From Caracas, Rodríguez assured that the agreement
00:56It will allow a considerable increase in production through the participation of operators
01:01private entities, and that this agreement would be valid for 25 years. One of the main objectives
01:06It's about attracting close to $100 billion in private investment to revive an industry
01:11oil company that for years has suffered from infrastructure problems, lack of investment and decline
01:15of production. Venezuela possesses the largest proven oil reserves in the world,
01:19But having those reserves does not mean that all that crude oil can be extracted immediately.
01:23In fact, analysts quoted by El Espectador warn that the increase in production could
01:28It takes between three and four years for the effects to be reflected significantly. Furthermore, it is not yet
01:32They know all the details about how the profits will be divided between the Venezuelan state and the
01:37private companies. For Washington, the agreement represents an opportunity to increase supply
01:42of oil, strengthen its energy position in the hemisphere and eventually contribute to reducing
01:47Gasoline prices in the United States. For Venezuela, the arrival of capital and technology
01:52It could help revive a struggling industry and increase its revenue. However, there are also
01:57Doubts remain about how much power the Venezuelan state will retain over these projects and how much money
02:03It will ultimately receive money for the exploitation of its resources. Some researchers consulted suggest
02:07that the model could end up functioning as a kind of lease, in which Venezuela
02:12It retains ownership of the resource, but retains a significant portion of the control over its exploitation.
02:17The main question now lies in the details of the agreement. Although some points have been raised
02:21The overall figures, 65 billion barrels under majority US control and up
02:26$100 billion in private investment; it is still not known exactly how it will be used.
02:31They will distribute the profits, what the conditions will be for companies, what role will they play
02:36PDVSA and how much the Venezuelan state will receive directly. Therefore, more than just asking how much
02:42With oil involved, the central point will be to determine who will have effective control
02:46of those projects and what economic benefits Venezuela will obtain during the next 25
02:51years.
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