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Luisa Palacios and Bob McNally on Why the US-Venezuela Oil Deal Matters
It's been a tumultuous year for Venezuela, marked by political upheaval and deadly earthquakes. Then, in late August, the Trump administration announced a deal for over 65 billion barrels of Venezuelan oil reserves—and a 35% stake in North American Blue Energy Partners (NABEP). The move could turn a little-known private company into one of the world's largest corporate holders of oil reserves.
But NABEP wasn't the only headline. In the same week, Chevron pledged $7 billion to double its Venezuelan production, Italian major ENI moved forward on a massive oil field agreement, and GE Vernova…
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