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PoliticsUS official: US structured Venezuela oil position to protect it from dilution
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A US official stated that the United States structured its position on Venezuelan oil to protect it from dilution. The concessions for Venezuelan oilfields are awarded without a competitive process. As part of a recent deal between Washington and Caracas, NABEP was granted 100-year rights to 17 oilfields holding an estimated 65 billion barrels of reserves. The article, published by The Business Times Singapore on September 5, 2026, highlights the non-competitive nature of these oil concessions and the strategic structuring by the US to safeguard its interests in Venezuela's oil sector.
Source report
The concessions are awarded without a competitive process.
Key Details
- NABEP was granted 100-year rights to 17 oilfields holding an estimated 65 billion barrels of reserves as part of the recent deal between Washington and Caracas.
- The concessions were awarded without a competitive process.
Photo: REUTERS
Source
The Business TimesNeutral / independent
Part of this Story
U.S. secures 35% equity stake in 100-year Venezuelan oil concessions for 17 fields