The Trump administration has secured a 35% equity stake in North American Blue Energy Partners, a private Venezuelan oil operator holding concessions on 17 fields representing approximately 65 billion barrels of proven reserves, about 20% of Venezuela’s total. Washington obtains board-level veto power over the company and the right to purchase 20% of production at cost, with first refusal rights on remaining output. NABEP has committed to investing up to $100 billion in Venezuela’s oil infrastructure, generating projected tax and royalty revenues exceeding $209 billion over the agreement’s lifespan. This deal permanently deprives China of its priority access to Venezuelan barrels through its oil-for-loans arrangements. NABEP’s current production of 200,000 to 250,000 barrels per day remains far below Venezuela’s historical peak of over 3 million barrels per day in the late 1990s.
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