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Trump extends deal on Venezuelan oil
It has been reported that the White House has entered into a partnership with North American Blue Energy Partners to establish a new oil company in Venezuela. The U.S. Department of Defense (Pentagon) will hold a 35% ownership stake and have rights to purchase 20% of the production at cost price. The deal, considered one of the largest oil operations in the region, involves a $100 billion investment and grants rights for 100 years over 17 oil fields containing proven reserves of approximately 65 billion barrels. The goal is to increase production and exploit Venezuelan energy resources. The statement clarifies that the agreement would be cost-free to the United States, is subject to American law, and will be managed by a board of directors majority of whom are American citizens.
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