U.S. to take stake in Venezuelan businessman's oil venture, WSJ reports
The U.S. government is reportedly planning to acquire a 35% passive equity stake in North American Blue Energy Partners (NABEP), an energy firm owned by Venezuelan businessman Alejandro Betancourt. According to the Wall Street Journal, this investment will be structured through penny warrants that allow for minimal capital outlay while securing ownership rights and preferential purchase terms on up to 20% of NABEP's production at cost price. This development follows a statement from U.S. President Donald Trump earlier in the week claiming majority control over more than 65 billion barrels of Venezuela’s oil reserves through private partnerships, though he provided few specifics about how this would be executed. The Pentagon has denied taking equity stakes in private companies and stated its role is limited to providing capital assistance via loans or guarantees. The White House and NABEP have not commented outside regular business hours.
Topics: investment oil reserves strategic capital U.S. government Venezuela