US takes control of Venezuela's oil fields from China and Russia
Venezuela has handed over control of oil fields developed by Russia and China to an American company — Reuters. American oil company North American Blue Energy Partners (NABEP), which is a motor ship, will take over management of a total of 17 oil fields in Venezuela.
Consensus
- The United States has transferred control of several Venezuelan oil fields to the American company North American Blue Energy Partners (NABEP).
- NABEP will have operational control over the oil fields in Venezuela.
- The U.S. government will receive a 35% stake in NABEP.
- The U.S. will have preferential access to 20% of the oil produced by NABEP at cost price.
- The deal involves 65 billion barrels of proven oil reserves in Venezuela.
- The transfer of control includes fields previously managed by Chinese and Russian companies.
- President Donald Trump announced the deal as the largest oil deal in history.
- The U.S. government has the right of first refusal to purchase 80% of NABEP's remaining oil production.
Points of divergence
- Oil shipments to China from Venezuela have dropped to zero, down from 400,000 barrels per day, due to U.S. intelligence operations targeting President Nicolás Maduro. — thebell
- The U.S. has explicitly stated that China will not receive payments from Venezuela's new oil revenues, which are tied to future long-term concessions to American companies. — thebell
- China's investments in Venezuela peaked during Maduro's first term and declined sharply after 2018, following his re-election and the imposition of U.S. oil sanctions. — thebell
- China's share of Venezuela's oil exports was only 4% in 2025, despite China's dominance in Venezuela's overall oil exports. — thebell
- NABEP will receive 14 oil production contracts in Venezuela. — meduza
- NABEP will take control of 17 oil fields in Venezuela, five of which were developed by China and one by Russia. — tg_echoonline_news
- Russia's involvement in Venezuela's oil sector has ended, with its company losing its assets. — tg_moscowtimes_ru
Coverage (4 sources)
- Venezuelan oil pits the US against China — The Bell
- Venezuela will hand over oil fields to American company that previously were developed by Russia and China — Meduza
- Venezuela handed American company control over oil fields developed by Russia and China — R… — ЭХО / Новости
- US kicks Russia and China out of Venezuela's oil sector — The Moscow Times
Key entities
- Venezuela
- China
- Russia
- USA
- Reuters
- Bloomberg
- Donald Trump
- Vladimir Putin
- NPZ
- Nicolás Maduro
- Western Hemisphere
- North American Blue Energy Partners
- NABEP
- Efforts
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