US Seeks 35% Stake in Venezuelan-Linked Energy Firm Amid Moves on Oil Reserves
The US government is reportedly planning to acquire a 35% passive stake in Alejandro Betancourt’s North American Blue Energy Partners, alongside preferential rights to purchase 20% of its oil production at cost.
Key Details of the Proposed Deal
Investment Mechanism: According to the Wall Street Journal, the Pentagon’s Office of Strategic Capital aims to structure the investment using stock purchase warrants at a nominal price, securing government ownership without a significant capital outlay.
Strategic Oil Control: The reported move follows a recent announcement by President Donald Trump that the United States will take control of approximately one-fifth of Venezuela's massive oil reserves. Trump indicated that the US has secured majority control over more than 65 billion barrels of proven Venezuelan reserves through partnerships with private companies.
Pentagon Rebuttal: Following the reports, Pentagon spokesperson Sean Parnell told Reuters that the Office of Strategic Capital does not acquire equity stakes in private companies.