Betancourt family retains majority share in firm at heart of US-Venezuela oil deal
CARACAS: The family of Alejandro Betancourt, a contentious businessman at the centre of a massive US-Venezuela oil deal, retains the majority stake in his company NABEP, which is overseeing the agreement, the firm told AFP Wednesday.
The Betancourt family maintains the majority share in their company, North American Blue Energy Partners (NABEP), which is leading a significant US-Venezuela oil deal, according to the firm's spokesperson. The United States holds a 35% stake in NABEP as part of the controversial multibillion-dollar agreement with Venezuela's interim government.
Despite the scrutiny surrounding the arrangement, NABEP's spokesperson emphasized that the company was chosen by the US government due to its recognized expertise in oil production in Venezuela, claiming they produce more than 200,000 barrels of oil per day.
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