The US government and Venezuela signed an agreement granting Washington the right to extract 65 billion barrels of Venezuelan oil over a period of 100 years. ^[1] The White House confirmed a 100-year oil concession granted to the private company North American Blue Energy Partners (NABEP) for exploring Venezuelan crude oil. ^[2] Under the agreement between the Trump administration and interim President Delcy Rodríguez, NABEP will have rights to drill 17 fields containing approximately 65 billion barrels of oil. ^[3] Alejandro Betancourt, a 46-year-old businessman, is the author, mediator, and main beneficiary of the US-Venezuela energy security agreement. ^[4] The White House announced a historic energy security agreement granting the United States privileged access for a century to a quarter of Venezuela's crude oil reserves. ^[5] Chris Wright stated that the majority of the Nabep board will be composed of Americans who will exercise control instruments over the agreement to exploit 21% of Venezuela's proven oil reserves. ^[6] US Energy Secretary Chris Wright confirmed on 2026-05-21 that the United States will exercise strict control over the funds and operations of the oil agreement between North American Blue Energy Partners (Nabep) and the Venezuelan government. ^[7] Delcy Rodríguez, the interim president of Venezuela, defended Alejandro Betancourt, the director of North American Blue Energy Partners (NABEP), at a press conference on a Wednesday regarding a major oil agreement between Caracas and Washington. ^[8] The agreement involves NABEP exploiting 20% of Venezuela's proven oil reserves as part of a bilateral deal between Caracas and Washington. ^[9] Alejandro Betancourt López, a 46-year-old Venezuelan businessman, will lead the new oil agreement as the central operator. ^[10] Donald Trump announced a 25-year oil agreement between the United States and Venezuela that grants the US 55% of production from 17 oil fields. ^[11] The US and Venezuela have finalized a new oil agreement intended to address the US's urgent energy needs by accessing Venezuela's vast reserves. ^[12]