The White House announced on Monday that it is partnering with North American Blue Energy Partners to form a new oil company where the Pentagon holds a 35% ownership stake. ^[1] President Donald Trump announced a deal to develop Venezuela's oil reserves and give the Pentagon a stake in the profits. ^[2] The White House reaffirmed on May 1 that the United States remains open to dialogue with North Korean leader Kim Jong-un without preconditions. ^[3] North American Blue Energy Partners, owned by Alejandro Betancourt, has agreed to invest $100 billion in new oil infrastructure. ^[4] The deal grants the new oil company 100-year rights over 17 oil fields with proven reserves of about 65 billion barrels. ^[5] The State Department will receive a guarantee to purchase 20% of the output from the new oil company at cost. ^[6] Analysts questioned whether Venezuela's acting President Delcy Rodríguez has the legal authority to give the company 100-year rights over 17 oil fields with reserves of 65 billion barrels without National Assembly approval. ^[7] Chevron officials and Energy Secretary Chris Wright are expected to visit Venezuela on Wednesday to formally unveil the new investment. ^[8] The deal with NABEP would create a new company where the Pentagon takes a 35% ownership stake and the State Department has the right to buy 20% of the oil produced at cost. ^[9] A White House official stated that President Trump is still willing to talk to Kim Jong-un without conditions, referencing their previous historic meetings in 2018 and 2019. ^[10] The White House official did not explicitly mention North Korean denuclearization as part of the policy when asked about preparations for a summit. ^[11] Analysts suggested the White House may be using the lack of preconditions as a lure to bring Kim to the negotiating table while avoiding explicit mention of denuclearization. ^[12]