Reuters: North American Blue Energy Partners will gain control of oil fields in Venezuela

Two American officials told Reuters that North American Blue Energy Partners will take control of a number of Venezuelan fields that were previously managed by several Chinese companies and one Russian company. NABEP will receive a total of 14 oil production contracts in Venezuela, and operational management will be with the company.

According to them, the U.S. government will receive a 35% stake in NABEP and preferential access to 20% of the oil produced at cost. This is precisely the kind of scheme for distributing production and company shares that is being discussed.

In August, U.S. President Donald Trump called this arrangement “the largest oil deal in history”. He said that Washington and Caracas had concluded it as part of a broader agreement.

American officials claim that under the deal the U.S. will gain control of Venezuelan oil fields totaling 65 billion barrels. They also believe that Venezuela will be able to attract about $100 billion in private investment, which, they say, should help the country’s economy recover.

Sources

• Meduza