Reuters: Venezuela to hand oil fields run by Chinese, Russian firms to U.S.-backed operator
The American company North American Blue Energy Partners (NABEP) will take control of several oil fields in Venezuela that were previously operated by several Chinese companies and one Russian firm, two U.S. officials told Reuters.
The American company North American Blue Energy Partners (NABEP) will assume control of several Venezuelan oil fields previously operated by Chinese firms and a Russian entity, according to two U.S. officials speaking with Reuters. NABEP will receive 14 oil production contracts in Venezuela, taking on operational control while the U.S. government retains a 35% stake and "preferential access" to 20% of the oil produced at a reduced rate.
In August, President Donald Trump announced a record-breaking oil deal between Washington and Caracas, granting the U.S. access to approximately 64 billion barrels of Venezuela's proven oil reserves. Consequently, U.S. officials predict that Venezuela could attract around $100 billion in private investment, aiding in the nation's economic revival.
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