The Venezuelan government led by interim President Delcy Rodriguez approved a deal granting U.S.-backed North American Blue Energy Partners (NABEP) 100-year concessions for 17 oil fields.
The decision follows the Trump administration's deal with the South American country to exploit is vast oil reserves. CNBC noted that NABEP is the second-largest private oil producer in Venezuela, and has given the U.S. Department of War's Office of Strategic Capital an equity stake of 35% in its corporate parent. That will represent "hundreds of billions in value and dividends for the United States," the White House said.
