The Trump administration's plan to take a stake in tens of billions of barrels of Venezuelan oil reserves will hinge on a private company called North American Blue Energy Partners, the White House announced Monday.

Says the US has secured majority control of more than 65 billion barrels of Venezuela’s proven oil reserves through a partnership with private business.

Donald Trump is moving to give the US control of more than 65 billion barrels of Venezuelan oil, in a deal that could secure American supplies for decades.