Multiple media outlets reported that the Trump administration is engaged in advanced negotiations with Venezuelan officials to secure direct ownership stakes in numerous oilfields. The Wall Street Journal indicated discussions involve taking control of more than a dozen fields containing approximately 90 billion barrels—nearly one-third of Venezuela’s total proven reserves. Bloomberg reported that one potential agreement under discussion involves a 100-year lease arrangement on several fields. Reuters quoted sources describing the negotiations as occurring at the highest governmental levels in both the United States and Venezuela.
Venezuelan opposition members have responded with strong criticism, characterizing the arrangement as a territorial seizure and colonial-style exploitation. An unnamed opposition figure called the deal a “land grab” and criticized what they described as predatory American conduct. Exiled economist Ricardo Hausmann questioned the legitimacy of the interim government—which succeeded Nicolás Maduro following his capture in January—to execute such an agreement, particularly under the existing hydrocarbons law. Economist Francisco Rodríguez urged Venezuela’s national assembly to reject the arrangement, noting it would contradict the constitution. Gregory Brew, an energy historian with the Eurasia Group, drew parallels to early 20th-century oil concessions granted to the Anglo-Persian Oil Company in Iran, describing the reported deal as colonial in nature.
The negotiations represent a significant expansion of American influence over Venezuela’s political and economic structures following Maduro’s removal. The interim government, led by Delcy Rodríguez—Maduro’s former vice president—has retained several figures from the previous regime in positions of authority. Opposition leader María Corina Machado, whose movement is widely believed to have won the 2024 presidential elections, remains in exile. No presidential election date has been announced. The developments align with what observers characterize as the Trump administration’s broader effort to reassert American dominance throughout Latin America and counter Chinese and Russian influence in the region.
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