White House Releases Details on US–Venezuela Historic Oil Deal
Under the deal, North American Blue Energy Partners would grant the Pentagon’s Office of Strategic Capital a 35 percent equity stake in its corporate parent.
The White House announced an agreement granting the United States access to 65 billion barrels of Venezuela’s oil reserves. This deal involves Venezuela’s interim government granting NABEP, a private oil company, 100-year concessions for 17 oil fields. The agreement was facilitated by Secretary of State Marco Rubio, Secretary of War Pete Hegseth, and interim Venezuelan President Delcy Rodriguez.
- The US will gain access to 65 billion barrels of Venezuelan oil reserves.
- North American Blue Energy Partners (NABEP) will receive 100-year concessions for 17 oil fields.
- NABEP is Venezuela’s second-largest private oil producer.
- The deal was brokered by Secretary of State Marco Rubio, Secretary of War Pete Hegseth, and interim Venezuelan President Delcy Rodriguez.
- The agreement involves a partnership with private businesses.
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