President Donald Trump announced a major oil agreement with Venezuela on Friday, saying the U.S. has secured majority control of more than 65 billion barrels of the country’s proven oil reserves.

“The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” Trump wrote on Truth Social.

WHAT WARSH’S JACKSON HOLE SPEECH SIGNALS ABOUT WHERE INTEREST RATES ARE HEADED

A Venezuelan flag and oil tanker in Maracaibo, Venezuela. On Friday, U.S. President Donald Trump announced a major oil agreement with Venezuela. (Jose Isaac Bula/Anadolu via Getty Images)

Trump said the agreement was reached through Secretary of State Marco Rubio, Secretary of War Pete Hegseth, Venezuela’s interim president Delcy Rodriguez and private business “at no cost to the American Taxpayer.”

“This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future,” Trump said.

GET FOX BUSINESS ON THE GO

The White House did not immediately respond to FOX Business’ request for comment.

This is a developing story; check back later for updates.

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Operator

Hello, and welcome to the Special Meeting of Stockholders of Amaero Inc. Please note that today’s meeting is being recorded. It is now my pleasure to turn today’s meeting over to Mr. Hank Holland, Chairman and CEO of Amaero Inc. The floor is yours.

Hank Holland
Executive Chairman & CEO

Thank you, Elizabeth. Good morning, ladies and gentlemen. My name is Hank Holland, and I’m the Chairman and CEO of Amaero Inc., and I will be chairing the meeting today. On behalf of all the directors, I’m pleased to welcome you to the company’s Special Meeting of Stockholders. Thank you all for joining us today.

I can confirm the special meeting of stockholders has been properly constituted, and it is now 11:00 a.m. on Friday in Sydney and 9:00 p.m. on Thursday in Chattanooga, Tennessee, and a quorum is present, I declare the Special Meeting of Stockholders open for business. The Notice of the Special Meeting of Stockholders and the accompanying proxy statement were made available to all members on the 7th of August 2026 and are taken to be read.

In attendance today is my fellow director, Robert Latta. Also in attendance today, we have Laura Newell from Source Governance and Ashley Rose from Norton Rose Fulbright Australia. Representatives from Computershare, our share registry provider, are also in attendance. Only the stockholder, CHESS Depositary Nominees Pty Limited, the depository nominee is entitled to vote at this meeting. Those persons holding CDIs as of Friday, July 31, 2026, at 9:00 a.m. U.S. Central Daylight Time, Saturday, August 1, 2026, at midnight Australian Eastern Standard Time, were entitled to instruct the depository nominee to vote at this meeting by following the instructions on the CDI voting instruction form and may not vote virtually at the special meeting. To