Venezuelan acting President Delcy Rodriguez said on Aug 28 that the country had reached a large-scale oil cooperation agreement with the United States. Rodriguez said in a government statement published on social media that the deal would allow private companies to participate, significantly boosting oil output. The agreement covers the development of 17 strategic oil fields with investment exceeding $100 billion and is expected to generate over $209 billion in tax revenue for the Venezuelan government. US President Donald Trump announced on social media on Aug 28 that Washington had reached a deal with Venezuela, securing "majority control" over more than 65 billion barrels of the country's proven oil reserves.