US Government Stake in Foreign Oil Producer Under Scrutiny
What happened
A business site stated that the US government would possess a passive 35% equity stake in NABEP, the company at the center of the US-Venezuela oil accord. This stake would make a US military office a shareholder in a foreign oil producer. The Rio Times reported these 35% terms when the White House first published them, but the Pentagon has denied the information.
From riotimesonline.com
Why it matters
The potential equity stake would tie the Department of War’s budget to the commercial fortunes of a foreign oil producer. This situation places the US government office in competition with Chevron, a major US oil corporation. The viability of this arrangement is currently subject to legal and congressional review.
From riotimesonline.com
Who's involved
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.Keep exploring
The entities involved
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Barbados
island nation in the Caribbean
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