Trump Claims U.S. Secures Majority Control of Venezuela’s 65 Billion-Barrel Oil Reserves in Historic Deal…
US President Donald Trump announced a major, historic agreement with Venezuela on Friday, August 28th. Trump announced the largest oil deal in history with Venezuela, information about which was shared in a social media post. Under this agreement, the US will gain majority control over Venezuela’s proven crude oil reserves of over 65 billion barrels. Trump claims that this historic transaction will more than double US oil reserves and significantly increase US oil supplies. Announcing the agreement on social media, Donald Trump wrote, “The United States has just reached the largest oil deal in world history with the country of Venezuela.” The US President stated that this agreement was negotiated between Secretary of State Marco Rubio, Secretary of Defense Pete Hegseth, and Venezuela’s Acting President Delcy Rodriguez. Trump wrote on Truth Social, “At my behest, Secretary of State Marco Rubio and Secretary of War Pete Hegseth, in collaboration with Venezuela’s highly respected interim President Delcy Rodriguez and in partnership with private companies, have secured majority control for the United States over 65 billion barrels of proven oil reserves in Venezuela. This agreement cost the US no American taxpayer money.” He stated that the agreement is highly beneficial to America’s energy supply and claimed that it will more than double US oil reserves and help lower gas prices. Venezuela’s interim President Delcy Rodriguez welcomed the agreement, saying it will generate significant revenue for the country’s treasury. Venezuela’s interim President Delcy Rodriguez stated that the country wants to utilize its vast oil reserves to become a major energy producer, create jobs, increase workers’ incomes, and improve living standards. He added, “In this way, Venezuela is ushering in a new era of recovery, growth, production, security, and prosperity for its people.” “ How the deal will work Under this deal, the US will form a new private company in collaboration with an unnamed private operator to develop 17 strategic Venezuelan oil fields (primarily in the Orinoco Belt and Lake Maracaibo). Effectively, 55% of this company’s total oil production will be directly under US control. Venezuela says these projects could generate approximately $100 billion in private investment and generate over $209 billion in tax revenue for Caracas. This agreement was reached after intensive negotiations between US Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuela’s interim President Delcy Rodriguez. This political change comes after the US military operation in January that ousted and arrested former Venezuelan President Nicolas Maduro, after which Venezuela amended its oil laws to encourage foreign investment.
Massive devastation in Venezuela, more than 10,000 people died, PM Modi expressed grief….
A 7.1 magnitude earthquake struck Venezuela on Wednesday, June 24, causing devastation across the region. The earthquake also destroyed several buildings in the capital, Caracas. Taking cognizance of the situation, President Rodriguez declared a state of emergency, closing the airport and activating relief and rescue operations. News agencies estimate the death toll is between 10,000 and 100,000. The tremor’s depth is estimated to be approximately 10 kilometers. At the time of the incident, dozens of people in the Venezuelan capital were seen escaping buildings and waiting on the street before returning to their offices and homes. Prime Minister Narendra Modi expressed deep sorrow over the earthquake and the devastation in Venezuela. He shared his condolences, writing on the social media platform, “I am deeply saddened by the devastation caused by the earthquake in Venezuela. On behalf of the Indian people, I extend my deepest condolences to the Government and people of Venezuela, and especially to the families who lost loved ones.” India is ready to provide all possible assistance. Meanwhile, news of a strong 6.9 magnitude earthquake struck Japan on Thursday, June 25th. However, it is a matter of relief that no tsunami warning has been issued. According to the Japan Meteorological Agency, strong tremors were felt near the populated region of northern Japan on Thursday, where the epicenter was reported to be at a depth of about 50 kilometers. The impact of the earthquake in Japan was felt most strongly in Hashkami. Locals reported that the tremor was strong but there was no significant damage. Tribes urged people to remain in open areas for the time being, as there is still a possibility of aftershocks. Just minutes after the first tremor, a second, more powerful 7.5 magnitude earthquake struck, with a depth of 10 kilometers.