North American Blue Energy Partners (NABEP), led by Alejandro Betancourt, obtained an agreement with the United States to jointly exploit more than 20% of Venezuela's crude oil reserves. ^[1] The US Strategic Capital Office of the Pentagon will hold a 35% stake in the parent company of NABEP without any cost to US taxpayers. ^[2] The official dollar rate fixed by the Central Bank of Venezuela (BCV) crossed the 800 bolivares barrier on September 2, settling exactly at 801.17 bolivares per USD. ^[3] Marco Rubio, US Secretary of State, said on 2025-09-01 that he participated directly in negotiations of the oil agreement announced by the Trump administration, describing it as part of Venezuela's economic recovery and political transition. ^[4] Rubio said presidential elections in Venezuela should be held 'as soon as possible' but no date is set; conditions must first be created for legitimacy, including opposition space, press freedom, an accepted electoral council, voting guarantees, and international observers. ^[5] The agreement grants NABEP 100-year concessions for 17 oil fields with proven reserves of approximately 65 billion barrels of oil in Venezuela. ^[6] US Energy Secretary Chris Wright and Venezuelan Interim President Delcy Rodríguez met in Caracas on 2026-07-15 to defend the designation of NABEP as the key partner in a new energy agreement. ^[7] The agreement between the United States and Venezuela can be extended for up to 100 years. ^[8] The White House announced that the agreement is expected to generate $200 billion in taxes for Venezuelan authorities over the next 25 years. ^[9] NABEP plans to invest $100 billion in Venezuela's deteriorated oil infrastructure. ^[10] President Donald Trump held a private meeting with oil executives at the White House on 2026-04-12. ^[11] The agreement grants the US access to 65 billion barrels of Venezuelan crude across 17 fields. ^[12]