In an exclusive interview with The Guardian, published on August 30, 2026, Venezuela's interim president, Delcy Rodríguez, fervently defended the oil agreement reached with the administration of Donald Trump, assuring it will bring 'infinite benefits' to her country. The pact, announced by Trump on Friday, August 28, involves the joint exploitation of 17 strategic oil fields and an expected production of more than 1.5 million barrels per day.
Rodríguez, who assumed power in January 2026 following the capture of Nicolás Maduro by U.S. special forces in Caracas (on January 3), insisted that Venezuela maintains ownership and sovereignty over its resources. 'This agreement is a giant step toward economic development and the consolidation of Venezuela as a world energy power,' she stated. According to her estimates, the pact will generate revenues exceeding 209 billion dollars (approximately 154 billion pounds).
The Numbers Behind the Deal
- Oil fields: 17 strategic
- Expected production: +1.5 million barrels per day
- Reserves under U.S. control: 65 billion barrels
- Projected revenues: 209 billion dollars
- Venezuela's total reserves: ~303 billion barrels (the world's largest)
Historical Context
Venezuela holds the largest proven oil reserves in the world, with about 303 billion barrels, surpassing Saudi Arabia (268 billion) and Iran (208 billion). This agreement, however, has sparked intense domestic controversy.
Mixed Reactions
While Trump called the deal 'the greatest in world history' and a 'historic transaction,' he plans to use Venezuelan oil to fill the U.S. Strategic National Reserves, describing it as 'a gift from Venezuela to the American people.'
However, the Venezuelan opposition was quick to criticize. Rafael Ramírez, former head of PDVSA, accused Rodríguez's administration of 'stabbing a dagger into the heart of the homeland' and handing over 65 billion barrels, something 'never seen in Venezuela or the world.' The streets of Caracas witnessed a march with slogans like 'We are not a colony or backyard' and 'Yankees, go home!' A viral meme even suggests renaming PDVSA as 'PDUSA'.
A Historic Turn for Rodríguez
Rodríguez's trajectory, daughter of a Marxist guerrilla, has been marked by harsh criticism of imperialism. In 2024, she accused the opposition of wanting to hand over oil to 'their masters in Washington,' and in September 2025, she told the New York Times that the Pentagon always had the strategic goal of obtaining Venezuelan reserves. Now, paradoxically, she is the one signing an agreement with the U.S.
The pact, the result of months of secret negotiations, involves the Pentagon's Office of Strategic Capital and a private company owned by Alejandro Betancourt, a magnate based in the United Kingdom, who acted as a key intermediary between the Trump administration and Rodríguez.
Political Concerns
The opposition fears this agreement will consolidate the status quo and delay democratic recovery. Juan Pablo Guanipa, an opposition leader, demands free elections for a representative government, rule of law, and transparent institutions; without this, he warns, the agreement is like 'a skyscraper on pillars of clay.'
Rodríguez has said elections will occur 'someday,' while Trump stated that Venezuela is 'not really ready' for polls. Maduro, for his part, was accused of fraud in the 2024 elections, which deepens distrust.
The agreement undoubtedly marks a milestone in bilateral relations and the global energy landscape, but its long-term impact on Venezuelan sovereignty and democracy remains uncertain.