Trump’s Venezuela fixer is promoting ‘America First’ oil deals

A Venezuelan business mogul who amassed wealth through power turbines and oil production is now serving as the Trump administration's liaison for securing "America First" energy deals with preferred US firms, as Washington seeks to bolster its influence in the South American nation. Alejandro Betancourt, who heads Venezuela's leading independent oil producer, collaborates with the US government to pinpoint lucrative energy assets, pinpoint operational inefficiencies, and forge industrial connections, according to sources familiar with his role.

Betancourt assists in facilitating partnerships between US companies and Venezuelan energy firms, including Lionheart Capital and Pacific Coast Energy Co., known as PCEC. Recent agreements with these entities suggest Betancourt's growing influence in promoting US involvement in Venezuela's oil sector. Although Betancourt's background is marred by allegations of corruption, money laundering, and tax fraud, he has steadfastly denied any wrongdoing.

Despite his troubled past, Betancourt's emergence as a key player in Virginia's oil sector highlights the US government's efforts to encourage American companies to invest in the resource-rich country, with President Donald Trump championing the potential for enhanced domestic oil production. However, despite months of effort following the removal of Nicolás Maduro and his replacement, substantial oil deals remain scarce due to complex negotiations and US sanctions.