North American Blue Energy Partners will operate 17 Venezuelan oilfields with a 35% Pentagon stake, targeting 1 million bpd in a 25-year deal

The US government plans a 35% passive stake in Alejandro Betancourt's energy company. It also seeks preferential rights to purchase 20% of production at cost. This investment is…

The report comes only a day after U.S. President Donald Trump said on Friday that the U.S. would take control of a fifth of Venezuela’s vast oil reserves.