Trump administration unveils additional details in Venezuela oil deal

The Trump administration unveiled additional details Monday evening about its new oil deal with Venezuela.

The administration said in a press release that the Pentagon’s Office of Strategic Capital will take a 35 percent equity stake in North American Blue Energy Partners, a private company that is Venezuela’s second-largest private oil producer.

It added that the firm, which will now be partly owned by the U.S. government, was given a 100-year concession for Venezuelan oil fields that are estimated to contain about 65 billion barrels of oil — about 21 percent of Venezuela’s total estimated oil.

The administration also said that the U.S. will get the right to purchase 20 percent of the oil that North American Blue Energy Partners unearths at the cost of production. It said that this oil can be used to fill the U.S.’s........

© The Hill