US President Donald Trump announced a significant oil agreement involving Venezuela after the January 2026 capture of Venezuelan President Nicolás Maduro by US forces.
Delcy Rodríguez was installed as Maduro's replacement, according to the source material.
The Pentagon's Office of Strategic Capital was declared to own a third of North American Blue Energy Partners, Venezuela's second-largest private oil firm.
The move is aimed at influencing Venezuelan oil production.
Legal and Practical Challenges
Experts challenge the deal's legality and practicality.
They note Venezuelan law limits oil deals to 25 years, not the 100 years implied by Trump.
Critics also say the Pentagon lacks authority to hold company shares.
The deal will not bring new capital nor replenish the US strategic petroleum reserve soon, according to critics.
A key figure is Alejandro Betancourt López, a Venezuelan businessman with international ties and a complex background, partnering with the US government in Nabep.
The US State Department describes the deal as private and not involving Venezuela's interim government, contradicting Trump's claim of an agreement with Venezuela.
The Pentagon holds warrants to buy shares, not actual ownership, while the State Department has rights to purchase 20% of Nabep's oil at cost.
Former US diplomat John Feeley expressed skepticism, likening the deal to unfulfilled promises.
He noted the Pentagon's transition under Deputy Defense Secretary Stephen Feinberg into a private equity-like entity raises concerns.
Separately, Trump claimed at the United Nations that combining US and Venezuelan oil reserves could be the "biggest deal ever made."
He asserted "to the victor belong the spoils," reflecting a force-driven approach to international relations.
Trump's statements were criticized for ignoring principles of justice and democracy.
They drew contrasts with Abraham Lincoln's emphasis on moral truth and democratic elections, especially amid concerns about the fairness of upcoming US elections.
