US Vice President JD Vance has described America’s latest energy achievements as a major success under President Donald Trump’s administration, highlighting record oil production, expanding liquefied natural gas (LNG) exports and a historic agreement involving Venezuela’s oil reserves.
In a post on social media platform X, Vance said the administration had opened hundreds of millions of acres for oil, gas and coal development while strengthening America’s energy industry. He stated that the United States exported more than 100 million metric tons of LNG in 2025, setting a global record. LNG exports subsequently increased by 23 per cent during the first half of 2026, reaching 17.4 billion cubic feet per day.
Vance also highlighted record domestic oil and gas production in 2025, adding that the country was on track for another annual crude oil production record in 2026, with output expected to average 13.8 million barrels per day.
The major announcement concerned President Trump’s agreement involving Venezuela’s petroleum resources. Vance claimed that the United States had secured majority control of more than 65 billion barrels of Venezuela’s proven oil reserves, describing it as the biggest oil deal in world history.
The agreement, announced by the White House on August 31, involves North American Blue Energy Partners (NABEP), a privately held oil company granted 100-year concessions covering 17 Venezuelan oil fields. Under the announced terms, the US government receives a 35 per cent equity stake in the company’s parent organisation through the Department of War’s Office of Strategic Capital. The State Department also receives rights to purchase 20 per cent of production at cost and first refusal over the remaining output.
Meanwhile, US imports of Venezuelan crude oil increased significantly in 2026. According to the US Energy Information Administration (EIA), imports averaged 701,000 barrels per day in July, the highest monthly level since May 2017, before declining to 655,000 barrels per day in August. Imports had stood at approximately 200,000 barrels per day at the beginning of the year.
The EIA attributed the increase to strong demand from American refineries and eased government restrictions on Venezuelan oil purchases. Several refineries along the US Gulf Coast are specifically equipped to process heavy sour crude, including Venezuelan grades.
Venezuelan oil export destinations have also shifted. Shipping data from Vortexa indicated that while China was the leading destination in 2025, the United States became the largest destination in 2026, with no Venezuelan crude shipments to China recorded during the reported period.
The developments underline Washington’s growing energy engagement with Venezuela and its broader ambition to strengthen American influence in global oil and gas markets.