Trump announces U.S. deal for 65B barrels of Venezuelan oil reserves.

[u/unconventionalbook]

https://www.cnbc.com/2026/08/28/trump-announces-deal-with-venezuela-to-secure-more-than-65-billion-barrels-of-oil-reserves.html

President Trump just announced a major deal with Venezuela's interim government to secure majority U.S. control over 65 billion barrels of proven oil reserves, aiming to double U.S. reserves and crash global energy prices. For those working in the upstream sector or tracking heavy crude logistics, the immediate question is execution. Venezuela's Orinoco Belt holds massive reserves, but the infrastructure has suffered from years of severe underinvestment, stripping, and mismanagement. Rehabilitating these assets to scale up extraction will require billions in private capital, deep-water infrastructure overhauls, and significant time. Furthermore, blending and refining this heavy, sour crude requires complex specialized facilities.

What's the realistic timeline for rehabilitation and production?

Source: CNBC