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.
- The United States secured a 100-year concession deal with North American Blue Energy Partners to control 17 Venezuelan oil fields containing about 65 billion barrels of proven reserves, displacing Chinese and Russian operators.
- The U.S. government holds a 35% equity stake in the company, with veto power over board appointments and preferential access to oil production at cost, requiring a U.S. majority on the board.
- The agreement aims to attract up to $100 billion in investment and support over 1.5 million barrels per day production, contributing to Venezuela's economic recovery and modernization efforts.
- This strategic deal enhances U.S. energy security amid rising global crude prices and potentially influences heavy crude competition in U.S. markets.
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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