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U.S. Eyes Venezuela’s Oil Future | Venezuela News
The U.S. is poised to unlock a fifth of Venezuela’s oil reserves through a bold 100-year deal with private firm North American Blue Energy Partners, giving Washington a 35% stake in the parent company and a guaranteed 20% cut of production—with first dibs on the rest. But the deal’s credibility is shaky: CEO Alejandro Betancourt, under investigation by U.S. and European authorities for past ties to Venezuela’s government (though never charged), is scaring off major oil giants like ExxonMobil and ConocoPhillips, who fled after nationalization and demand legal certainty. Betancourt insists his…
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