US government to take 35% stake in Venezuelan oil venture with Alejandro Betancourt

The U.S. government plans to take a 35% passive stake in North American Blue Energy Partners, a Venezuelan oil venture led by Alejandro Betancourt. Announced by President Donald Trump, the deal involves a 100-year concession over 17 oil fields containing 65 billion barrels, or one-fifth of Venezuela's reserves. While the Pentagon's Office of Strategic Capital is slated to finance the venture, spokesperson Sean Parnell clarified that the office does not take equity stakes.

US equity stake structure

• ▪The United States government plans to take a 35% passive stake in North American Blue Energy Partners, a company led by Venezuelan businessman Alejandro Betancourt.
• ▪The United States Pentagon's Office of Strategic Capital plans to structure the investment in North American Blue Energy Partners through penny warrants to yield equity ownership without significant capital investment.
• ▪The United States government plans to secure preferential rights to purchase 20% of North American Blue Energy Partners' oil production at cost.

Trump Venezuela oil announcement

• ▪U.S. President Donald Trump announced on August 28, 2026, that a deal was reached with Venezuela's interim president, Delcy Rodríguez, to control over 65 billion barrels of Venezuelan oil.
• ▪U.S. President Donald Trump's administration devised the direct government investment plan after American energy companies resisted investing in Venezuela at the desired speed and scale.

Century-long oil field concessions

• ▪The 17 Venezuelan oil fields under the proposed 100-year concession contain an estimated 65 billion barrels of oil, representing approximately one-fifth of Venezuela's proven reserves.
• ▪The oil venture involving North American Blue Energy Partners would be granted a 100-year concession over 17 Venezuelan oil fields.

Pentagon Strategic Capital financing

• ▪Chief Pentagon spokesperson Sean Parnell stated that the Office of Strategic Capital does not take equity stakes in private companies and is strictly limited to providing capital assistance.
• ▪The United States Pentagon is planned to help finance the Venezuelan oil venture led by Alejandro Betancourt and reap the rewards of its future output.

Neocolonial resource control concerns

• ▪The proposed oil agreement would tie the United States government closely to the unelected interim government of Venezuela led by Delcy Rodríguez.
• ▪Critics and industry observers warned that U.S. President Donald Trump's plan to control Venezuelan oil reserves risks turning Venezuela into a modern-day resource colony.

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