Venezuela grants North American Blue Energy Partners 100-year concessions for 17 oil fields, White House says
The agreement gives Washington a 35% stake and purchase rights to 20% of output as NABEP takes over 17 oil fields.
- US oil company North American Blue Energy Partners will take over 14 oil projects in Venezuela previously operated by five Chinese companies and one Russian firm under a deal announced by President Donald Trump.
- The agreement grants NABEP contracts to develop 17 projects aimed at supplying oil to the US market, reducing Chinese and Russian influence in Venezuela's oil industry.
- Talks between Venezuela's interim authorities and the 2015 National Assembly aim to restore constitutional order and provide legal grounds for the revival of Venezuela's oil sector, as recognized by US officials.
- Some of the oilfields involved were linked to entities affiliated with Venezuelan officials under US sanctions or custody.
282 Articles
282 Articles
Washington Times
The New York LedgerU.S. officials say Venezuela oil deal step toward progress despite lingering concerns
The deal to give the U.S. majority control over 65 billion barrels of Venezuela's proven oil reserves is a step toward stability and economic growth in the South American country, according to U.S. officials, even as major questions linger about the agreement's implications for citizens of the recovering nation.
The United States will gain control of much of Venezuela's oil. A fifth of the reserves will be given by Venezuela to North American Blue Energy Partners, a private US firm. It has been awarded a 100-year concession for 17 oil fields with proven reserves of around 65 billion barrels, the White House announced on Monday. At the end of 2024, the United States only had about 46 billion barrels of its own.
NEWS HEADLINES: President Trump’s Venezuela Oil Deal Gives U.S. a 35% Stake in 65 Billion Barrels – 100PercentFedUp.com – by Isaac
President Trump just turned Venezuela’s stranded oil wealth into a long-term American strategic asset. And the fine print is much bigger than a simple agreement to buy crude. The new 100-year deal gives the U.S. government a 35% equity stake in a company holding concessions over approximately 65 billion barrels of proven Venezuelan reserves. It also locks in at-cost access to a share of the oil, gives Washington first refusal on the rest and pla…
The United States will be able to operate 17 oil fields, with an estimated production potential of 65 billion barrels. ...
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