Donald Trump’s plan to secure control of 65 billion barrels of Venezuelan oil aims to boost US reserves, attract investment, and lower US petrol prices, but analysts warn it will have little impact on fuel prices for years and carries significant financial and legal risks. The deal, announced via social media with few details, involves the US taking a 35% stake in North American Blue Energy Partners (NABEP), a private firm led by controversial Venezuelan businessman Alejandro Betancourt. Under the agreement, Washington would gain the right to purchase 20% of NABEP’s oil output at production cost and hold first refusal on the remaining 80% for emergency supply.

NABEP plans to develop 17 Venezuelan oilfields via 100-year concessions, many previously held by Russian and Chinese firms. Experts like Bob Mc Nally of Rapidan Energy Group caution that political risks in both Washington and Caracas could lead to the deal being reconsidered or terminated by a future US president, especially if a Democratic successor shifts focus to renewables. The involvement of Betancourt may deter investors due to his controversial background.

Technical challenges are substantial, as Venezuela’s oil is mostly heavy crude requiring $100 billion in infrastructure investment over time, including pipelines, upgrading capacity, and logistics. Major US oil companies Exxon Mobil, Conoco Phillips, and Chevron have declined to comment, reflecting lingering reluctance to invest in a country with a history of expropriating US assets.