US Secures 65 Billion Barrel Venezuelan Oil Deal with 35% Equity Stake

The White House announced a landmark oil agreement on August 31, 2026, that grants North American Blue Energy Partners (NABEP) 100-year concessions on 17 Venezuelan fields holding roughly 65 billion barrels of proven reserves.

The deal includes a 35% equity stake in NABEP's corporate parent for the U.S. government, along with a guaranteed right to buy 20% of off-take at production cost and a right of first refusal on the remaining 80%. The agreement also includes veto power over board appointments, a requirement that a majority of directors be U.S. citizens, U.S. auditors and advisors, and jurisdiction under U.S. law.

The deal is part of a broader stabilization, reconstruction, and democratic-transition effort in Venezuela after the January 2026 capture of Nicolás Maduro. NABEP plans to invest up to $100 billion in infrastructure and aims to scale output significantly, with authorities targeting 1.5 million barrels per day from the fields over time.

The agreement injects private capital and operational expertise into a sector crippled by years of underinvestment, sanctions, mismanagement, and infrastructure decay. Over the first 25 years, NABEP is expected to pay $200 billion in royalties and taxes under Venezuela's new hydrocarbons law, funding reconstruction, social programs, and earthquake recovery.