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PoliticsWhite House: Venezuela grants U.S.-backed NABEP 100-year concessions for 17 oil fields
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On September 1, 2026, the White House announced that Venezuelan interim authorities have granted U.S.-backed North American Blue Energy Partners (NABEP) 100-year concessions for 17 oil fields with proven reserves of approximately 65 billion barrels. NABEP, Venezuela's second-largest private oil producer, has also granted the U.S. Department of War's Office of Strategic Capital a 35% equity stake in its corporate parent, representing potentially hundreds of billions in value and dividends for the United States. The announcement marks a significant development in U.S.-Venezuela energy relations and the ongoing political situation in Venezuela.
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An oil tanker is seen at a crude dock on Lake Maracaibo in Cabimas, Venezuela. (Photo by Jose Bula Urrutia/UCG/Universal Images Group via Getty Images)
Ucg | Universal Images Group | Getty Images
Venezuelan interim authorities have granted U.S.-backed North American Blue Energy Partners (NABEP) 100-year concessions for 17 oil fields with proven reserves of approximately 65 billion barrels, the White House announced Monday.
NABEP is the Latin American nation's second-largest private oil producer. The company has granted the U.S. Department of War's Office of Strategic Capital an equity stake of 35% in its corporate parent, "representing up to hundreds of billions in value and dividends for the United States."
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US Top News and AnalysisWestern
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U.S. secures 35% equity stake in 100-year Venezuelan oil concessions for 17 fields