US Secures 100-Year Concessions in Venezuela Oil Deal: White House | Dawn News English

The White House has provided details of an energy pact granting Washington majority control over 65 billion barrels of proven oil reserves in Venezuela. Under the agreement, North American Blue Energy Partners has granted the Pentagon’s Office of Strategic Capital a 35 per cent equity stake in its corporate parent at no cost to American taxpayers. The US State Department also has the right to purchase 20 per cent of the production at cost. There is a discrepancy between Washington and Caracas over the duration of the deal. Venezuela’s interim President Delcy Rodriguez had previously announced a 25-year agreement, while the White House said NABEP had secured 100-year concessions for 17 specific oil fields. --------------------------------------------------------------------------------------------------------------------------- Dawn News English is your window into the latest news, insight, and features from South Asia and beyond. Website: www.dawn.com Official Facebook:  / dawnnewsenglish   Official Twitter: https://x.com/dawnnewsenglish Official Instagram:   / dawnnewsenglish   #news #latestnews #dawnnewsenglish #dawnnews