Urgent.News

What's breaking now, across thousands of outlets.

Business

Alejandro Betancourt, the man who could be Trump’s viceroy in Venezuela

The United States has turned to a shrewd and polarizing figure in power circles to help it tap into the country's oil reserves.

Translated from Spanish Read in Spanish

Alejandro Betancourt, a Venezuelan businessman, has partnered with the US government in a deal to revive Venezuela's oil industry. His company, North American Blue Energy Partners (NABEP), will take control of over 65,000 million barrels of Venezuela's oil reserves. The deal, described by Trump as "the largest oil deal in history", comes after a change in Betancourt's fortunes, who had previously been prohibited from leaving the UK due to a Swiss extradition request over alleged money laundering.

The US administration, which had previously considered Venezuelan President Nicolás Maduro a corrupt dictator, is now working closely with Maduro's vice president, Delcy Rodríguez.

Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.

Also reported by 6 other outlets

Read the original at expansion.com →

More in Business

Political courage would have left fuel taxes untouched, say sector bosses

Transport and infrastructure leaders are accusing National and Labour of cowardice for pulling back on planned tax increases.

  • Government delays four fuel excise increases over four years.
  • Transport firms accuse coalition of lacking political courage.
  • Delayed taxes intended to save voters money but cost country more.

SLB Makes $3.4 Billion Bet on AI Data Center Boom

The world’s largest oilfield services company is spending $3.4 billion to expand into the infrastructure behind the AI power boom.

  • SLB plans $3.4B investment in AI data center infrastructure.
  • Acquisition of German cooling equipment maker Kelvion announced.
  • Deal to be finalized in first half of 2027 pending regulatory clearances.

More from Monday 31 August →