Global Edition
Global Edition
UK Edition
EU Edition
US Edition

Understand the story, not the spin.

Markets

US in Advanced Talks for Stake in Venezuela Oil Fields

Published 28 August 2026

The United States is in advanced talks with Venezuela's interim government to secure a direct ownership stake in the South American nation's oil fields, a move that would dramatically expand American energy reserves and mark a significant shift in Western Hemisphere geopolitics. According to multiple U.S. officials, the negotiations involve equity in more than a dozen productive fields holding an estimated 90 billion barrels of proven reserves, a deal described by one official as "massive." The discussions, first reported by Axios and confirmed by other sources, are being led by Secretary of State Marco Rubio and Venezuela's acting president, Delcy Rodríguez.

0:00 / 0:00