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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://kra-30-at.cc/|slon15.cc]]
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+The Trump administration's plan to take a stake in tens of billions of barrels of Venezuelan oil reserves will hinge on a private company called North American Blue Energy Partners, the White House announced Monday, offering more details on the agreement.
+[[https://slon13c.cc/|slon6.to]]
+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's total proven oil reserves.
+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's output at the cost of production, and it will have the right of first refusal to buy everything else.
+[[https://krm2.cc/|slon6.to]]
+Run by Venezuelan executive Alejandro Betancourt, NABEP describes itself as Venezuela's second-largest private oil producer, pumping more than 200,000 barrels of oil per day.
+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.)
+"Venezuela is blessed with an abundance of natural resources, hardworking people and untapped potential," Betancourt said in a statement thanking President Trump and interim Venezuelan President Delcy Rodriguez. "This transaction will unleash that potential to the great benefit of both Venezuelans and Americans."
+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.

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