US-Venezuela Pact Gives NABEP Rights to 65 Billion Barrels, $100B Investment
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Caracas, Venezuela – September 04, 2026 -- The United States Departments of State and War have struck a deal with North American Blue Energy Partners (NABEP) that hands the company commercial rights to more than 65 billion barrels of P1 oil reserves in Venezuela, backed by nearly $100 billion in planned investment.
Washington secures a 35% equity stake and discounted crude access
Under the agreement, NABEP retains operating control of the venture while the U.S. government holds rights to a 35% stake in the company and preferential access to purchase 20% of its production at cost. President Donald J. Trump called it "the biggest oil deal in world history" in an announcement on Truth Social, framing it as a mechanism to bring lower fuel prices to American consumers and fiscal stability to Venezuela.