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U.S. secures one-fifth of Venezuela’s crude reserves

9/6/2026

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Summary

Story summary

Alejandro Betancourt became U.S. partner in a deal giving the U.S. one-fifth of Venezuela’s crude reserves.
The Pentagon’s Office of Strategic Capital took a 35% stake in North American Blue Energy Partners, Betancourt’s oil company.
State Department secured right to buy 20% of NABEP’s oil at cost and access to remaining 80%.
U.S. pressure led Switzerland to withdraw its extradition request for Betancourt from the United Kingdom in May.

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Story summary

Alejandro Betancourt became U.S. partner in a deal giving the U.S. one-fifth of Venezuela’s crude reserves.
The Pentagon’s Office of Strategic Capital took a 35% stake in North American Blue Energy Partners, Betancourt’s oil company.
State Department secured right to buy 20% of NABEP’s oil at cost and access to remaining 80%.
U.S. pressure led Switzerland to withdraw its extradition request for Betancourt from the United Kingdom in May.