White House provides details on Trump’s Venezuela oil deal

Venezuela’s interim president Delcy Rodriguez has granted North American Blue Energy Partners (NABEP) 100-year rights over 17 oil fields with proven reserves of 65 billion barrels. The deal, which involves a $100 billion investment in oil infrastructure, includes a 35 percent stake for the Pentagon and guarantees the U.S. the right to purchase 20 percent of the output at cost. This agreement seeks to enhance U.S. energy dominance and potentially revive Venezuela’s oil production, previously controlled by Russian and Chinese firms.

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