US Energy Secretary defends new Venezuelan oil agreements

Venezuelan oil reserves Chris Wright energy agreements North American Blue Energy Partners oil production

US Energy Secretary Chris Wright has defended new energy agreements in Venezuela, denying allegations that the United States is ‘stealing’ Venezuelan oil. Wright emphasized that the resources belong to the Venezuelan people and that royalties and taxes will flow to the Caracas government.

Under the new deals, the US will gain majority control over nearly 20% of Venezuela’s oil reserves, estimated at 65 billion barrels. Venezuela projects it will earn US$209 billion in royalties and taxes over the next 25 years. The agreements involve several international companies, including Chevron, ENI, and GE Vernova.

One specific component of the arrangement involves the US government taking a 35% equity stake in North American Blue Energy Partners, a private exploration and production company led by Alejandro Betancourt. Wright also stated that China will not have rights to the income generated from this new production. The initiative aims to mobilize private capital to develop idle assets and bolster Venezuela’s electricity sector through a five-year plan.

Entities

Alejandro Betancourt · Chevron · Chris Wright · Delcy Rodríguez · North American Blue Energy Partners · Venezuela

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] New energy deals grant the US majority control of approximately 65 billion barrels of oil reserves. impakter.com · www.washingtonexaminer.com
[○ 1 SOURCE] China will not have the right to receive income from the new Venezuelan oil production generated by these agreements. primicia.com.ve
[○ 1 SOURCE] Venezuela projects US$209 billion in royalties and taxes over a 25-year period from these deals. impakter.com
[○ 1 SOURCE] US Energy Secretary Chris Wright denied that the US is stealing Venezuelan oil, stating the resources belong to Venezuela. impakter.com
[○ 1 SOURCE] Agreements were signed with companies including Chevron, ENI, and GE Vernova. primicia.com.ve
[○ 1 SOURCE] The US government is taking a 35% equity stake in North American Blue Energy Partners. www.washingtonexaminer.com

Sources

US Energy Secretary Insists It Is Not “stealing Venezuelan Oil” [impakter.com]

18 days ago

Aseguran que China no recibirá ingresos del petroleo venezolano - Diario Primicia [primicia.com.ve]

18 days ago

Daily on Energy: Notes from Callie’s reporting trip to Caracas [www.washingtonexaminer.com]

18 days ago