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Trump Partners for 65 Billion Barrels in Venezuela

9/1/2026

16 3 Full Breakdown

Summary

Story summary

President Donald Trump partners with North American Blue Energy Partners to control a stake in Venezuela’s oil fields.
Acting President Delcy Rodríguez grants NABEP 100-year rights to 17 fields containing about 65 billion barrels.
Pentagon obtains 35% equity in NABEP.
State Department secures 20% off-take at cost.
Analysts say heavy Venezuelan crude cannot fill the Strategic Petroleum Reserve, preventing quick price drops.

History

Historical Context

The 1973 OPEC Arab oil embargo, launched after the Yom Kippur War, cut exports to the United States and triggered nationwide gasoline rationing; retail prices jumped 43% from 38.5¢ to 55.1¢ by June 1974. Nixon responded by creating the Federal Energy Office and allocating emergency aid, a precedent cited as the U.S. revisits foreign-oil partnerships under the Trump administration.

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Story summary

President Donald Trump partners with North American Blue Energy Partners to control a stake in Venezuela’s oil fields.
Acting President Delcy Rodríguez grants NABEP 100-year rights to 17 fields containing about 65 billion barrels.
Pentagon obtains 35% equity in NABEP.
State Department secures 20% off-take at cost.
Analysts say heavy Venezuelan crude cannot fill the Strategic Petroleum Reserve, preventing quick price drops.

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