The Trump administration has secured a 35% equity stake in North American Blue Energy Partners (NABEP), a private Venezuelan oil operator, through the Office of Strategic Capital. The agreement covers 100-year concessions across 17 fields holding roughly 65 billion barrels of proven reserves, about 20% of Venezuela’s total. The United States can purchase 20% of NABEP’s output at production cost and has first-refusal rights on the remainder, as well as board-level veto power over the company’s governance. NABEP has committed up to $100 billion for Venezuelan oil infrastructure and operations. The arrangement is projected to generate more than $209 billion in taxes and royalties over its lifespan and about $200 billion in revenue during its first 25 years. Announced by President Trump around August 28, 2026, the deal followed the ouster of Nicolás Maduro in January 2026 and engagement with interim president Delcy Rodríguez’s government. It would displace Chinese access arrangements tied to loans for oil, although existing contracts could complicate implementation. NABEP currently produces 200,000 to 250,000 barrels per day, far below Venezuela’s peak of more than 3 million barrels per day in the late 1990s. A successful production expansion could put downward pressure on domestic energy prices and give Washington a longer-term supply base alongside Canadian imports and domestic production.