Brind.
  1. NABEP, controlled by Alejandro Betancourt, is involved in a potential oil deal in Venezuela that includes ExxonMobil, ConocoPhillips, and a U.S. government equity stake.

Rystad Energy assesses Venezuelan oil revival, NABEP seeks major investment

1 report, 1 independent Updated Sun 00:00
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What happened

Some supportReported by 1 outlet

Rystad Energy assessed the potential for a major oil revival in Venezuela, prompting North American Blue Energy Partners (NABEP) to seek investments in the sector. The Trump Administration highlighted the new oil order as a significant opportunity for the world’s largest crude oil resource holder. NABEP was granted 100-year concessions for 17 oil fields, which hold approximately 65 billion barrels of proven reserves.

From oilprice.com

Why it matters

Some supportBrind's analysis of the reports

The restructuring of Venezuela's oil sector, which removed Russian and Chinese companies, has spurred new deals with oil majors and service providers. NABEP, led by Alejandro Betancourt, aims to increase production to over 1 million barrels of oil per day. Rystad Energy noted that NABEP’s $100 billion figure represents a long-term funding requirement, not committed near-term capital.

NABEP, controlled by Alejandro Betancourt, is involved in a potential oil deal in Venezuela that includes a U.S. government equity stake.

From oilprice.com

Who's involved

  • Rystad EnergyNorwegian energy research company that evaluated the viability of oil production growth.
  • Alejandro BetancourtVenezuelan businessman who leads NABEP and secures resource rights within Venezuela.
  • VenezuelaCountry where the oil concessions and production revival are taking place.
  • Donald TrumpAmerican politician who touted the new oil order in Venezuela as a tremendous opportunity.

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NABEP, controlled by Alejandro Betancourt, is involved in a potential oil deal in Venezuela that includes ExxonMobil, ConocoPhillips, and a U.S. government equity stake.

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