US takes 55% stake in venture tied to 65 billion barrels in Venezuela

The United States has secured a 55% stake in a new venture tied to 17 Venezuelan oil fields with proven potential of 65 billion barrels, according to US and Venezuelan accounts of the deal. President Donald Trump cast the accord as a way to boost crude supplies and ease US fuel prices, while interim Venezuelan President Delcy Rodríguez said it would bring more than $100 billion in investment and generate over $209 billion in taxes. The arrangement is expected to run for decades, with US media and officials describing a 100-year concession, though Rodríguez publicly referred to a 25-year term. Key details, including the legal structure, private operator and final contract terms, have not been released.