The U.S. doesn’t have a state-owned oil giant. But in Venezuela, the federal government will control a company with the world’s 2nd largest reserves

Fortune•Sat, Aug 29, 2026, 05:31 PM•2 min read

The federal government will control 55% of the company's effective output via equity ownership and oil production.

Source: [Fortune](https://fortune.com/2026/08/29/us-state-owned-oil-giant-venezuela-second-largest-reserves-trump/)

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