Under US-Venezuela oil deal, some Chinese and Russian operators lose out
US oil company North American Blue Energy Partners is set to take over oilfields previously controlled by five Chinese companies and a Russian firm.
The United States has taken a significant step in reshaping Venezuela's oil industry through a new agreement with a US-backed oil company, North American Blue Energy Partners (NABEP). This deal will see NABEP take over some oilfields that were previously controlled by Chinese and Russian operators. The arrangement grants US companies access to 64 billion barrels of Venezuela's proven oil reserves, aligning with President Trump's goal of reshaping the country's oil sector to better suit US interests.
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- Under US-Venezuela oil deal, some Chinese and Russian operators lose out freemalaysiatoday.com
- US-Venezuela oil deal deepens China’s energy security squeeze asiatimes.com
