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US firm to take over some Venezuela oilfields previously run by Chinese, Russian firms: Reuters
The deal gives Washington a 35% stake in NABEP and access to 20% of its production at cost, officials said.
- On Monday, President Donald Trump announced North American Blue Energy Partners will assume control of 17 Venezuelan oil projects, displacing Chinese and Russian interests in the country's energy sector.
- The partnership secures access to some 64 billion barrels of Venezuela's proven oil reserves for the United States, with Venezuelan businessman Alejandro Betancourt controlling the company to supply U.S. markets.
- Five contracts previously operated by Chinese companies, including sanctioned China Concord Resources, and one Russian firm will transition to NABEP, alongside fields linked to associates of former President Nicolas Maduro and Cilia Flores.
- The U.S. government will hold a 35% stake in NABEP and access 20% of production at cost, while officials announced an ambitious $100 billion investment plan to scale infrastructure and drive economic growth.
- Redirecting these resources positions the United States to reshape Venezuela's energy industry, bringing vast reserves closer to American economic interests while shifting oil supply from previous Chinese and Russian partners to U.S. refineries.
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16 Articles
U.S. Oil Deal Pushes China and Russia Out of Venezuelan Fields
A U.S.-backed oil company controlled by Alejandro Betancourt is taking over Venezuelan projects previously operated by Chinese and Russian companies under a sweeping new U.S.-Venezuela oil agreement.
·New York, United States
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Coverage Details
Total News Sources16
Leaning Left3Leaning Right1Center3Last UpdatedBias Distribution43% Left, 43% Center
Bias Distribution
- 43% of the sources lean Left, 43% of the sources are Center
43% Center
L 43%
C 43%
14%
Factuality
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