@nicolmiranda
The deal
In an agreement that the White House on Monday called the “biggest oil deal in world history,” the Pentagon’s little-known Office of Strategic Capital will acquire up to a 35% equity stake in a company that owns North American Blue Energy Partners, the second-largest private oil producer in Venezuela.
NABEP plans to invest $100 billion in new infrastructure to produce oil from its fields, according to the White House. The company is controlled by the family of Alejandro Betancourt López, a controversial international businessman based in the UK. Betancourt has been investigated – but not yet charged – in Spain on fraud and money laundering charges, and a similar investigation closed in Switzerland without charges. A spokesperson for NABEP did not respond to a request for comment.
The White House said NABEP will be subject to US laws, and the US government will be able to veto any board member appointment.
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