US-Venezuela oil deal secures 65 billion barrels under 100-year contract

On Saturday, 5 September, details emerged of a sweeping energy agreement between the United States and Venezuela that grants a North American firm 100-year rights to 17 oilfields. The deal, covering an estimated 65 billion barrels of crude, transforms the US government from a diplomatic regulator into a direct stakeholder in Venezuela’s primary industry. Pentagon takes direct corporate stake North American Blue Energy Partners (NABEP) has committed $100 billion to rebuild Venezuela's oil infrastructure, including wells, pipelines, and export terminals. In a rare structural arrangement, the US Pentagon’s Office of Strategic Capital will receive a 35 per cent stake in NABEP’s parent company at no cost to the US government. The US State Department also secured rights to purchase 20 per cent of all production at cost, alongside first-refusal rights on all remaining output. Under the terms of the contract, Washington holds veto power over board appointments, and a majority of the operating company’s directors must be US citizens. The entire agreement operates under US law and the jurisdiction of US courts, bypassing the Venezuelan legal system for commercial disputes. This administrative control ensures that US interests dictate production and purchasing terms for the next century. Energy security and transit routes While President Donald Trump presented the deal as a mechanism to lower domestic petrol prices, the immediate benefit is strategic energy security. Venezuelan crude…