Trump administration secures stake in Venezuela’s oil industry, complicating China’s strategy

The US government just bought itself a seat at Venezuela’s oil table. Through the Office of Strategic Capital, the Trump administration has secured a 35% equity stake in North American Blue Energy Partners (NABEP), a private Venezuelan oil operator sitting on some of the most resource-rich fields in the Western Hemisphere. The deal covers 100-year concessions across 17 oil fields containing roughly 65 billion barrels of proven reserves, about 20% of Venezuela’s total. Washington gets to purchase 20% of NABEP’s output at production cost, with first refusal rights on the rest. What the deal actually looks like President Trump announced the agreement on Truth Social around August 28, 2026, with the White House releasing a formal fact sheet on August 31 and September 1. The arrangement goes well beyond a simple oil purchase agreement. The US secures board-level veto power over NABEP’s governance, giving Washington structural influence over how the company operates. NABEP, for its part, has committed to investing up to $100 billion in Venezuela’s oil infrastructure and operations. For Venezuela, the math is straightforward: the deal is projected to generate over $209 billion in taxes an...