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Pentagon buys 35% stake in Venezuelan oil operator

By Drooid · Oct 3, 2026, 6:08 AM UTC · How we work

Summary

Story summary

Pentagon’s Office of Strategic Capital acquired a 35% equity stake in North American Blue Energy Partners.
NABEP controls 17 Venezuelan oil fields with about 65 billion barrels of proven reserves.
The White House says the concession runs 100 years, while Venezuela’s interim government says 25 years.
Four Senate Democrats on Oct 2 questioned the Pentagon’s authority to hold the equity stake.
Owner Alejandro Betancourt López faces money-laundering and tax-fraud investigations in several countries.

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Story summary

Pentagon’s Office of Strategic Capital acquired a 35% equity stake in North American Blue Energy Partners.
NABEP controls 17 Venezuelan oil fields with about 65 billion barrels of proven reserves.
The White House says the concession runs 100 years, while Venezuela’s interim government says 25 years.
Four Senate Democrats on Oct 2 questioned the Pentagon’s authority to hold the equity stake.
Owner Alejandro Betancourt López faces money-laundering and tax-fraud investigations in several countries.