Trump's Venezuelan oil deal hinges on Betancourt and 35% U.S. stake across 17 fields

  • President Trump’s Venezuelan oil partnership centers on Alejandro Betancourt and his energy company.
  • The U.S. receives a 35% equity stake and 20% of after-tax oil from 17 fields.
  • Betancourt helped U.S. officials engage Delcy Rodriguez after Maduro’s Jan. 3 seizure.

President Trump's Venezuelan oil partnership with the Pentagon centers on Alejandro Betancourt, a 46-year-old Caracas businessman who runs North American Blue Energy Partners. U.S. officials say Betancourt helped explore a post-Maduro transition, including persuading Vice President Delcy Rodriguez to speak with U.S. Secretary of State Marco Rubio after the U.S. military seized Nicolas Maduro on Jan. 3. The deal gives Betancourt's company access to 17 fields, with the U.S. taking a 35% equity stake and 20% of after-tax oil at production cost, about $30 a barrel when crude was priced at $90 Monday. Venezuela receives 16% to 40% of production, depending on the field, plus income taxes. The arrangement follows Betancourt's earlier role supporting Juan Guaido, his flight after Maduro seized his assets, and scrutiny from a $1.2 billion money-laundering investigation in which he was never charged. Swiss and Spanish authorities later revived the case, temporarily restricting his travel until June. Energy experts have questioned whether the deal is workable or can reduce U.S. gas prices soon, while some Venezuelans have called it kleptocratic. His attorney, Jon Sale, said Betancourt has been unfairly maligned and is uniquely positioned for the moment.

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Trump's Venezuelan oil deal hinges on Betancourt and 35% U.S. stake across 17 fields - CoinPost Terminal