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North American Blue Energy Partners Aims to More Than Double Venezuelan Oil Output by 2028

evening · · thread: US Refineries Now Process Half of Venezuelan Oil Output as Production Deals Loom

2 sources across 2 countries · Argentina · United States

Who reported this

  • Infobae Argentina · Centre-right · Daniel Hadad
  • Bloomberg United States · Centre · Bloomberg L.P. (Michael Bloomberg)

What the colours mean

  • Left
  • Centre-left
  • Centre
  • Centre-right
  • Right
  • A hatched block means the outlet is affiliated with, or controlled by, a state.

Political lean describes where an outlet sits within the politics of its own country. It is never a position on a single global scale.

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North American Blue Energy Partners (Nabep), an oil company backed by the Trump administration, plans to more than double its crude oil production in Venezuela by late 2028. The company aims to increase output to 500,000 barrels per day from the current 200,000 barrels per day. According to reports, the company has secured a concession to exploit 17 fields with proven reserves of 65 billion barrels over a 100 year period.

Nabep is led by Venezuelan businessman Alejandro Betancourt, with the United States government participating as a majority stakeholder. The company stated that while it was already growing using its own resources, the agreement with the U.S. government will accelerate its strategic expansion. President Donald Trump described the deal as the largest oil agreement in world history. Since 2024, Nabep has increased its production by more than ten times to become the second largest private operator in Venezuela.

How each side framed it

Centre
The center lean outlet focused on the specific percentage of the projected output hike and the administration's backing.
Centre-right
The center-right lean outlet provided more granular detail regarding the company's leadership, specific barrel targets, and the scale of the reserves.

Sources

100% of the statements in this article were traced back to the source articles listed above.