Democrats Question Legality of Trump-Approved Venezuelan Oil Deal
US Democrats have expressed concerns over a massive Venezuelan oil deal announced by the White House in late August. The Pentagon's Office of Strategic Capital will take a 35 percent position in North American Blue Energy Partners (NABEP), which has received 100-year concessions on 17 Venezuelan oil fields containing approximately 65 billion barrels of oil.
This is roughly one-fifth of Venezuela's claimed 300 billion barrel oil reserves. Democrats, including Senate Foreign Relations Chair Jeanne Shaheen and Armed Services Chair Jack Reed, have challenged the legality of this plan in a letter to Secretary of State Marco Rubio and Energy Secretary Chris Wright.
They argue that the deal undermines Venezuela's pursuit of democratic transition and stands on shaky legal ground. The Democrats are laying the groundwork for a possible probe into the arrangement.