Story perspectives

U.S. wins 35% stake, 17 oil fields in Venezuela deal

9/10/2026

Summary

U.S. Secures Stake

U.S. secures 35% stake in Venezuela’s North American Blue Energy Partners and rights to 17 oil fields.
The deal covers 65 billion barrels of proven reserves across those fields.
U.S. may buy 20% of output at cost with first-refusal on the rest.
White House projects $209 billion in royalties and taxes over 25 years.
China’s foreign ministry warned the deal infringes its legal rights in Venezuela’s oil sector.

Summary

Venezuelans Reject Deal

A LatAm Pulse poll of 1,922 Venezuelans found 38% oppose, 35% support, 27% undecided on the deal.
Delcy Rodríguez’s disapproval rating fell to 60.5% as backlash over the deal grew.
Rubio’s approval among Venezuelans dropped from 54% to 30% after the announcement.
Florida Republican lawmakers warned the deal sidesteps congressional war-powers approval, raising constitutional concerns.
Protesters in Caracas displayed “Yankee out, murderers” signs on Aug. 29 against the pact.

History

Historical Context

In October 1973 OAPEC, led by Saudi Arabia, embargoed the United States over its support for Israel, sending oil prices up nearly 300% and revealing America’s dependence after domestic production peaked in 1970. The crisis sparked U.S. energy-security policies, a motive reflected today as Washington takes a 35% stake in Venezuela’s North American Blue Energy to lessen Middle-East reliance amid China competition.

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U.S. Secures Stake

U.S. secures 35% stake in Venezuela’s North American Blue Energy Partners and rights to 17 oil fields.
The deal covers 65 billion barrels of proven reserves across those fields.
U.S. may buy 20% of output at cost with first-refusal on the rest.
White House projects $209 billion in royalties and taxes over 25 years.
China’s foreign ministry warned the deal infringes its legal rights in Venezuela’s oil sector.

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