Washington grants 100 years of Venezuelan oil exploration to US private companies

The North American administration led by Donald Trump granted the private company North American Blue Energy Partners the right to explore 17 oil fields in Venezuela for 100 years, with estimated reserves of 65 billion barrels of crude. The United States Department of Defense will take 35% of the parent company, while the State Department will have the right to purchase 20% of the extracted oil at production price for US strategic reserves. NABEP, led by businessman Alejandro Betancourt, who was investigated in Spain, Switzerland and the United States for alleged money laundering and tax fraud related to PDVSA, announced plans to increase production to more than one million barrels per day and invest nearly 100 billion dollars in Venezuelan oil infrastructure. The agreement, hailed by the White House as historic, comes after the United States captured and overthrew President Nicolás Maduro in a military action in January, installing a government led by interim President Delcy Rodríguez. The pact generated suspicions in sectors that question whether the Trump administration is genuinely interested in a democratic transition in Venezuela.