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.
TL;DR
- 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.