Interim President Delcy Rodriguez confirms that her country Venezuela had signed a major oil deal with the United States, giving Washington majority control of 65 billion barrels of proven petroleum reserves. — AFP pic Stay updated on the latest news and insights. Subscribe to our newsletter here Summary Venezuela has confirmed a significant oil deal with the United States, granting the U.S. majority control over 65 billion barrels of proven petroleum reserves.Interim leader Delcy Rodriguez described the agreement as historic, anticipating it will attract over US$100 billion in investment and generate more than US$209 billion in tax revenue for the Venezuelan state.This deal is expected to play a crucial role in the economic rejuvenation of the nation. First Published: Saturday, 29 Aug 2026 11:20 AM MYT CARACAS, Aug 29 — Caracas on Friday confirmed that Venezuela had signed a major oil deal with the United States, giving Washington majority control of 65 billion barrels of proven petroleum reserves.The “historic” agreement would “have a significant impact on the rebirth of our nation,” interim leader Delcy Rodriguez wrote on social media, hailing a potential investment of “more than US$100 billion (RM394 billion) and more than US$209 billion (RM824 billion) in tax revenue for the State.” — AFP