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| + | White House says deal to take control of Venezuelan oil will rely on North American Blue Energy Partners | ||
| + | By Joe Walsh | ||
| + | August 31, 2026 / 11:15 PM EDT / CBS News | ||
| + | [[https:// | ||
| + | Add CBS News on Google | ||
| + | The Trump administration' | ||
| + | [[https:// | ||
| + | Under the deal, the Venezuelan government granted 100-year concessions to NABEP to drill in 17 oil fields, the White House said in a fact sheet released late Monday. Those oil fields contain about 65 billion barrels, roughly one-fifth of Venezuela' | ||
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| + | The U.S. Defense Department will be granted a 35% stake in the company, according to the White House. The State Department will then have the right to buy 20% of NABEP' | ||
| + | [[https:// | ||
| + | Run by Venezuelan executive Alejandro Betancourt, NABEP describes itself as Venezuela' | ||
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| + | In a statement confirming the structure of the deal, NABEP said it is aiming to increase daily production in the near-term to over 1 million barrels. (By comparison, the U.S. consumed about 20.6 million barrels of petroleum daily last year, according to government figures.) | ||
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| + | Rodriguez said in a speech over the weekend the ultimate goal is to produce more than 1.5 million barrels per day. She described it as a 25-year deal. | ||