Crude oil production: USA wants to participate in Venezuelan company for oil access
The US government is planning a 35-percent stake in a Venezuelan oil company, according to a media report. At the same time, access to parts of the production is to be secured.
Venezuela has signed a 25-year energy agreement with the US, aiming to increase crude oil production to 1.5 million barrels per day from 17 strategic oil fields. Venezuelan Vice President Delcy Rodriguez described the deal as "historic". The US government plans to acquire a 35% stake in North American Blue Energy Partners, a company owned by Venezuelan businessman Alejandro Betancourt.
The agreement could generate $209 billion in revenue for Venezuela, with $19 from each barrel sold going directly to the state, assuming an oil price of $65 per barrel.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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