Who is Alejandro Betancourt, colourful oil baron behind US-Venezuela oil deal?

Alejandro Betancourt López, a Venezuelan oil baron, is at the center of a controversial US-Venezuela oil deal. President Donald Trump has hailed the agreement as "the biggest in history," as North American Blue Energy Partners (Nabep) will oversee the production and sale of 17 oil fields containing approximately 65 billion barrels of crude.

Betancourt, a 46-year-old businessman, heads a Barbados-registered firm and has a history of business dealings with the Venezuelan government since Hugo Chávez's presidency. He has been under investigation in five different countries, though he has never been convicted of a crime. Betancourt, born in Caracas in 1980, is estimated to be worth around $2.6 billion.

His success, according to Venezuelan journalists, began with connections made during his time at the religious school Instituto Cumbres de Caracas. In 2009, a close friend of Betancourt's father, who later became president of Electricidad de Caracas, assured Betancourt that his company, Derwick Associates, could solve the country's electricity crisis, despite having no experience in the sector.

This connection led to 12 government contracts worth $5 billion, which Betancourt and others received without bidding. Anti-corruption organizations have criticized several of Derwick Associates' projects, alleging that they were either incomplete or carried out incorrectly, with some overbilling the government by 138%. Despite this, authorities have allowed Betancourt's business activities to expand internationally, including in Spain, Switzerland, and Africa.

Betancourt's legal troubles have followed him across borders, with investigations in Spain, Switzerland, Andorra, and the United States. He has been detained twice by British police in London and allegedly raided in Spain, though he denies any wrongdoing. US Secretary of State Marco Rubio has defended Betancourt, citing his ability to produce oil, his current lack of US investigation, and his opposition to Chávez's movement.