The US government published details of a planned oil agreement with Venezuela on 2026-09-01, involving the company North American Blue Energy Partners (NABEP). ^[1] President Donald Trump announced an agreement granting the US government a 35% stake in a Venezuelan oil company that holds contracts to operate 17 oil fields with estimated reserves of 65 billion barrels. ^[2] NABEP expects investments of nearly $100 billion in the Venezuelan oil industry and tax revenues of over $209 billion for the Venezuelan government. ^[3] The US government receives a veto right over the appointment of NABEP board members, requiring a majority of board members to be US citizens. ^[4] The US State Department is granted the right to acquire 20 percent of current and future oil production at cost, with a pre-emptive right for the remaining 80 percent. ^[5] The White House stated that the US will maintain the right to purchase at least 20% of the oil produced to refill the Strategic Petroleum Reserve (SPR), which currently holds 287 million barrels, its lowest level since 1982. ^[6] Tracy Shuchart, a senior economist at NinjaTrader, stated on social media platform X that the actual impact on US gasoline pump prices might not be felt for 5 to 15 years. ^[7] Venezuela's interim President Delcy Rodriguez stated that the project is signed for a 25-year term with a production target of more than 1.5 million barrels per day. ^[8]