US Takes Over Venezuelan Oilfields, Ousting China and Russia
NABEP will operate 17 projects and give Washington a 35% stake, while the U.S. gets preferential access to Venezuelan crude.
- President Donald Trump announced that North American Blue Energy Partners will take over 14 newly awarded contracts in Venezuela, managing 17 projects total to secure energy for the United States.
- Trump claimed the agreement targets roughly 64 billion barrels of reserves, challenging Beijing and Moscow's influence in South America and dismantling energy networks established by foreign competitors throughout the region.
- Washington holds a 35% stake in NABEP, gaining "preferential access" to 20% of production at cost; the State Department retains the right to purchase the remaining 80% of output, with strict oversight via an American-majority board.
- Crude is already flowing to refineries in Texas and Louisiana, with Trump noting "millions and millions of barrels of oil" are being extracted from operations including contracts previously managed by China Concord Resources.
- This takeover positions the United States to exert direct control over Venezuelan crude production and sales, marking an aggressive shift in regional energy dominance, as discussions with the 2015 National Assembly regarding constitutional questions remain underway.
11 Articles
11 Articles
US energy chief rejects ‘stealing Venezuelan oil’ claims as Washington takes control of vast reserves
US Energy Secretary Chris Wright denied claims of stealing Venezuelan oil. He stated private companies bring money and technology to develop resources. Wright emphasized fixing Venezuela's electricity sector is crucial for oil production. President Trump called the oil pact the world's biggest deal. Elections are a process requiring infrastructure readiness and stabilization.
US Takes Over Venezuelan Oilfields, Ousting China and Russia
In a major shakeup of global energy politics, a U.S.-backed oil company is set to take control of several Venezuelan oilfields. These fields were previously operated by Chinese and Russian energy firms. Two U.S. officials recently confirmed the move. It marks a significant effort by Washington to push back against Beijing and Moscow in America’s […] <p>The post US Takes Over Venezuelan Oilfields, Ousting China and Russia first appeared on Chiang…
(Washington = Yonhap News) Correspondent Baek Na-ri = On the 1st (local time), the U.S. government [stated] regarding the oil agreement with Venezuela that it is to counter the influence of China and Russia and Venezuela...
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