CNBC September 05, 2026 • 12:14

Trump’s state capitalism comes to the oil industry with his unprecedented Venezuela deal - CNBC

By Spencer Kimball

Trump’s state capitalism comes to the oil industry with his unprecedented Venezuela deal - CNBC

The deal comes eight months after Washington ousted former President Nicolás Maduro in a military raid.

The Pentagon has received a big ownership stake in an obscure private oil company that will control crude reserves larger than ExxonMobil's global portfolio if President Donald Trump's Venezuela deal… [+7855 chars]

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