Trump Venezuela Oil Deal Advances
A Trump-backed deal gives the US a Venezuelan oil stake as Chevron expands operations.
September 3, 2026 · Updated Sep 3, 9:06pm ET
El PaisInvestment banks cool Trump’s optimism: Venezuelan oil will not lower prices
ReasonTrump is taking a stake in Venezuela's oil industry and this crony is cashing in
The GuardianThe US and Venezuela: a century-old relationship drenched in oil
ABC NewsUS oil giant Chevron confirms it will expand operations in Venezuela
Raw StoryTrump's Venezuela oil deal exposed as 'absolutely disgusting' grab: analyst
NPREx-National Security Council director on administration's plan for Venezuela oil
AlterNetCongress stops Pentagon from carrying out Trump’s oil scheme
The BulwarkEven Fox News Won’t Hide the Truth About Trump’s Grotesque Oil Deal
Associated PressProud of their oil, Venezuelans view US stake in their reserves as a surrender
Wall Street JournalCanada Doesn’t Want to Be the Next Venezuela
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Pano rates the coverage Mostly Center.
What happened
President Donald Trump announced a U.S.-Venezuela oil agreement giving Washington control of roughly one-fifth of Venezuela’s oil reserves, including access to 17 fields, with the Pentagon slated to receive a stake in profits. Chevron confirmed it will expand operations in Venezuela, while Eni and other companies announced new investments tied to the arrangement. Congress challenged the Pentagon’s role as unlawful, and the deal’s legal authority remains unclear. Investment banks warned Venezuela’s output will take years to recover, limiting any near-term effect on fuel prices.
Venezuela Oil Deal
Part of the storyline · Storyline →- Sep 6Trump Reaches Venezuela Oil DealBalanced
- Sep 3Trump Venezuela Oil Deal Advances (this story)Mostly Center
- Sep 2Chevron Expands Venezuela OperationsLeans Right
- Sep 1Trump Unveils Venezuela Oil DealLeans Right
- Aug 31Trump Announces Venezuela Oil DealBalanced
