Historic Agreement Between US and NABEP to Unlock Venezuelan Oil Resources
On September 1, 2026, a landmark agreement was made between the US government and North American Blue Energy Partners (NABEP) to significantly enhance oil production in Venezuela. This deal, facilitated by improved diplomatic relations between the United States and Venezuela, is set to involve investments nearing $100 billion, focusing on the exploitation of over 65 billion barrels of proven reserves in the South American nation.
The arrangement grants NABEP operational control, while the US government secures a 35% stake in the company, along with the right to purchase 20% of its oil production at cost price. Many have called this venture the 'largest oil deal in history,' as noted by former President Donald Trump on social media, indicating a new collaborative spirit between the US and Venezuela that promises job creation and lower gasoline prices for American consumers.
Alejandro Betancourt, CEO of NABEP, remarked on the immense potential of Venezuela’s natural resources, expressing hope that this agreement will be mutually beneficial for both Venezuelans and Americans. With this initiative, NABEP aims to harness Venezuela's untapped possibilities, bolstered by support from key political figures including President Trump, Secretary Marco Rubio, and Venezuelan authorities. Betancourt noted, 'We are ready to explore new and exciting paths together.'
This ambitious project is expected to bring millions of additional barrels of Venezuelan oil to global markets, while simultaneously creating thousands of well-paying jobs in Venezuela. Furthermore, the influx of billions in investments is projected to boost economic activity, aiding the revival of Venezuela’s struggling economy. By securing the right to acquire 20% of oil produced, American consumers could benefit from significant savings, ensuring a consistent and growing oil supply in the Western Hemisphere.
NABEP also plans to invest billions in purchasing oil infrastructure and equipment from American suppliers, further securing thousands of manufacturing jobs in the US. Betancourt, who has over 15 years of experience in the Venezuelan oil industry, has previously led NABEP to dramatically increase its production from 18,000 barrels per day to over 200,000 barrels per day within just two years, making it one of the largest producers in the country. Today, NABEP directly employs over 5,000 staff and helps support an additional 10,000 contract workers across Venezuela.
By closing this deal, NABEP now holds the rights to commercialize more than 65 billion barrels of P1-reserves in Venezuela, with immediate plans to expand operations in the Maracaibo Lake and Orinoco Belt. Their short-term goal is to ramp up production to over 1 million barrels of oil per day.
The comprehensive program will involve investments of nearly $100 billion, significantly enhancing Venezuela's oil and gas infrastructure and generating upwards of $209 billion in tax revenues for the Venezuelan government. Following the announcement, US Secretary Marco Rubio stated, 'This agreement is a significant success for both the American and Venezuelan people.' His comments emphasized how the Trump administration's bold foreign policy has achieved results that contribute to 'America First' goals by securing stable reserves and affordable oil, while also positively impacting the Venezuelan population with substantial private investments and job creation to help rebuild the nation's economy.
About North American Blue Energy Partners:
NABEP is an independent oil exploration and production company operating in North and Latin America, with offices in Caracas, Maracaibo, and Lechería. They are committed to the responsible development of energy resources, maintaining the safety of their personnel, and fostering the prosperity of the communities where they operate. For more information, visit www.nabep.net.
The arrangement grants NABEP operational control, while the US government secures a 35% stake in the company, along with the right to purchase 20% of its oil production at cost price. Many have called this venture the 'largest oil deal in history,' as noted by former President Donald Trump on social media, indicating a new collaborative spirit between the US and Venezuela that promises job creation and lower gasoline prices for American consumers.
Alejandro Betancourt, CEO of NABEP, remarked on the immense potential of Venezuela’s natural resources, expressing hope that this agreement will be mutually beneficial for both Venezuelans and Americans. With this initiative, NABEP aims to harness Venezuela's untapped possibilities, bolstered by support from key political figures including President Trump, Secretary Marco Rubio, and Venezuelan authorities. Betancourt noted, 'We are ready to explore new and exciting paths together.'
This ambitious project is expected to bring millions of additional barrels of Venezuelan oil to global markets, while simultaneously creating thousands of well-paying jobs in Venezuela. Furthermore, the influx of billions in investments is projected to boost economic activity, aiding the revival of Venezuela’s struggling economy. By securing the right to acquire 20% of oil produced, American consumers could benefit from significant savings, ensuring a consistent and growing oil supply in the Western Hemisphere.
NABEP also plans to invest billions in purchasing oil infrastructure and equipment from American suppliers, further securing thousands of manufacturing jobs in the US. Betancourt, who has over 15 years of experience in the Venezuelan oil industry, has previously led NABEP to dramatically increase its production from 18,000 barrels per day to over 200,000 barrels per day within just two years, making it one of the largest producers in the country. Today, NABEP directly employs over 5,000 staff and helps support an additional 10,000 contract workers across Venezuela.
By closing this deal, NABEP now holds the rights to commercialize more than 65 billion barrels of P1-reserves in Venezuela, with immediate plans to expand operations in the Maracaibo Lake and Orinoco Belt. Their short-term goal is to ramp up production to over 1 million barrels of oil per day.
The comprehensive program will involve investments of nearly $100 billion, significantly enhancing Venezuela's oil and gas infrastructure and generating upwards of $209 billion in tax revenues for the Venezuelan government. Following the announcement, US Secretary Marco Rubio stated, 'This agreement is a significant success for both the American and Venezuelan people.' His comments emphasized how the Trump administration's bold foreign policy has achieved results that contribute to 'America First' goals by securing stable reserves and affordable oil, while also positively impacting the Venezuelan population with substantial private investments and job creation to help rebuild the nation's economy.
About North American Blue Energy Partners:
NABEP is an independent oil exploration and production company operating in North and Latin America, with offices in Caracas, Maracaibo, and Lechería. They are committed to the responsible development of energy resources, maintaining the safety of their personnel, and fostering the prosperity of the communities where they operate. For more information, visit www.nabep.net.
Topics Energy）
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