The US Controls Oil Fields of China and Russia in Venezuela

American company North American Blue Energy Partners (NABEP) is gaining control over oil fields in Venezuela that were previously managed by Chinese and Russian companies. The transfer of assets is taking place as part of an agreement between Washington and Venezuela. NABEP plans to develop 17 projects, with raw materials directed to the US market. Fourteen projects are being transferred under new contracts: five were controlled by Chinese entities, one by a Russian company, and three by associates of former President Nicolás Maduro. The agreement strengthens US influence over the Venezuelan oil sector. The US government receives a 35% stake in NABEP and veto power over board decisions. Washington will also gain preferential access to 20% of the oil produced and the first right to purchase the remaining 80%. Oil that was previously sent to China will now be supplied to Texas and Louisiana. US President Donald Trump announced access to 64 billion barrels of proven reserves in Venezuela.