North American Blue Energy Partners secures Pentagon oil deal for Venezuelan fields

Alejandro Betancourt López has spent years navigating investigations in multiple countries tied to alleged money laundering. Now he also has a contract with the US Department of Defense. North American Blue Energy Partners, the company Betancourt leads, has secured an agreement with the Trump administration granting NABEP exclusive rights to operate 17 Venezuelan oil fields. The deal was announced by President Trump on August 28-29, 2026, with a formal fact sheet released on August 31. What the deal actually looks like The 17 fields in question hold an estimated 65 billion barrels of proven reserves, roughly 20% of Venezuela’s total. In exchange for operating rights, the Pentagon’s Office of Strategic Capital receives a 35% equity stake in NABEP through penny warrants, a structure that protects against dilution while keeping dividends flowing. The State Department, separately, can access the remaining 80% of production output. NABEP has committed to investing up to $100 billion in new Venezuelan oil infrastructure. Projected tax and royalty payments to the Venezuelan government are expected to exceed $209 billion over the first 25 years of the agreement. On the production side, NAB...