August 31, 2026

White House Announces Venezuelan Oil Deal with North American Blue Energy Partners

The U.S. will take a 35% stake in North American Blue Energy Partners, which has a 100-year concession to drill in 17 Venezuelan oil fields.
NABEP plans to increase oil production from 200,000 to over 1 million barrels per day with a $100 billion investment in infrastructure.
Critics, including Democratic Sen. Jack Reed, argue the deal represents an abuse of power and raises legal concerns.

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