US and Venezuela: The White House released details of the oil agreement A recent report released by the White House revealed the terms of the oil agreement between the United States and Venezuela. The key to the pact lies in the fact that the United States will assume majority control over a proven oil field containing over 65 billion barrels of crude .
The document specifies that the Venezuelan administration granted 100-year exploitation rights to North American Blue Energy Partners (NABEP) . This private firm, ranked second in production in the country and with recognized operational experience, will assume management of 17 oil fields.
“ Millions of barrels of the new Venezuelan production will be processed in U.S. refineries and pumped using U.S. platforms and infrastructure, supporting billions of dollars in U.S. investment and thousands of jobs here in the country ,” the document stated.
The White House detailed the relations between the governments of Venezuela and the U.S.
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