Venezuela grants North American Blue Energy Partners 100-year concessions for 17 oil fields, White House says
The company plans to invest $100 billion in Venezuelan oil infrastructure while the Pentagon gets a 35% stake and the State Department secures output purchases.
- On Monday, the White House released terms granting North American Blue Energy Partners 100-year concessions for 17 oil fields in Venezuela, with acting President Delcy Rodríguez authorizing the agreement covering reserves of 65 billion barrels.
- President Donald Trump is pushing to expand Venezuelan oil production following the January 2026 military mission that captured former President Nicolás Maduro, shifting control of fields previously owned by Russian or Chinese firms.
- Led by businessman Alejandro Betancourt, NABEP will invest up to $100 billion in infrastructure, with the Pentagon receiving a 35% equity stake and the State Department securing rights to purchase 20% of output at cost.
- Washington is sponsoring reconciliation talks between the 2015 National Assembly and interim authorities, yielding judicial reforms and political prisoner releases, while the White House claimed the deal comes at "zero cost" to the U.S.
- Energy advisers caution that the agreement carries significant political risk, as future administrations in Venezuela or the United States could challenge the concessions and jeopardize the long-term energy project.
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White House partners with NABEP on Venezuela oil deal
Washington: The White House on Monday, August 31, said it’s partnering with North American Blue Energy Partners as part of President Donald Trump’s push to tap into Venezuela’s oil industry, setting up a deal that will give the Pentagon a stake over roughly a fifth of the country’s vast oil reserves. The Trump administration released … Get the latest updates in Hyderabad City News, Technology, Entertainment, Sports, Politics and Top Stories on W…
Days after Trump announces Venezuela oil deal, White House fills in some of the details – WTOP News
WASHINGTON (AP) — The White House on Monday said it’s partnering with North American Blue Energy Partners as part of President Donald Trump’s push to tap into V
Venezuela oil deal: NABEP gets 100-year concessions, to pay $200 billion in royalty and taxes in first 25 years
The White House said that Venezuela has granted North American Blue Energy Partners 100-year concessions for 17 oil fields. The privately held producer is expected to pay about $200 billion in royalties and taxes over the first 25 years.
Trump’s Venezuelan Oil Company Plans Massive Drilling Push
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