Who Is Alejandro Betancourt, Colourful Oil Baron Behind US-Venezuela Oil Deal?
Alejandro Betancourt López’s firm will manage 17 oil fields with about 65 billion barrels as U.S. officials seek more crude supply.
- Nabep, led by Venezuelan oil baron Alejandro Betancourt, will oversee the production and sale of 17 oil fields containing about 65bn barrels of crude as part of a U.S. oil abundance plan.
- Betancourt rose to prominence through Derwick Associates, which secured 12 government contracts worth $5bn without bidding; Transparency Venezuela alleged the projects were overbilled by 138%.
- Despite a 2013 lawsuit by former U.S. ambassador Otto Reich alleging bribery, Betancourt built Washington connections with Mauricio Claver-Carone, former U.S. Special Envoy for Latin America, and Rudy Giuliani, former New York City Mayor.
- Legal pressure eased in 2025 when Swiss authorities dropped extradition requests after U.S. intervention; Betancourt then facilitated communication between Vice-President Delcy Rodríguez and Rubio during the military operation against Maduro.
- Rubio defended Betancourt's selection, stating "He is an individual who strongly supported the opposition," though experts question Nabep's production capacity compared to Chevron's more than 200,000 barrels daily.
24 Articles
24 Articles
North American Blue Energy Partners (NABEP), Venezuela's second private oil company, will operate 100-year concessions for 17 oil fields with reserves of 65 billion barrels of oil in Venezuela, according to a White House report. This is within the framework of the “historic” agreement announced on Friday by the President of the United States, Donald Trump. Alejandro Betancourt, the main shareholder of NABEP, was enriched by opaque businesses dur…
The 46-year-old businessman is at the center of the deal that gives an American company control of 17 strategic oil fields in Venezuela - From Chavez's "bolichicos" to contacts with Washington and corruption investigations
The announcement to control up to 65 billion barrels of Venezuelan reserves would require multimillion-dollar investments and years of development
The U.S. and Venezuela backed NABEP oil company to operate 17 sites. Learn about the details of Alejandro Betancourt’s historic agreement and profile.
US Secretary of State Marco Rubio defended the oil agreement with North American Blue Energy Partners.
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