Which sanctioned individuals previously held contracts for the 17 oil fields now reassigned under the US-Venezuela deal?

According to the news, a Colombian businessman, a relative of Maduro’s wife, and a Chinese national — all sanctioned by the US Treasury — had previously been granted contracts to develop some of the same fields that interim President Delcy Rodríguez has now reassigned.

Who is Alejandro Betancourt, and what role does he play in the new US-Venezuela oil agreement?

Alejandro Betancourt is the Venezuelan businessman who runs North American Blue Energy Partners (NABEP), the partnership with the US to which Venezuela is handing over the 17 oil fields; he has been helping the Trump administration attract smaller American wildcatters to Venezuela.

US Oil Deal in Venezuela Displaces OFAC-Sanctioned Producers

Sep 1, 2026

The US government finalized a deal to develop 17 Venezuelan oil fields, displacing Maduro-linked sanctioned operators. The partnership targets 65 billion barrels in reserves to restore crude flows amidst ongoing sanctions.

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US Oil Deal in Venezuela Displaces OFAC-Sanctioned Producers

US Oil Deal in Venezuela Displaces OFAC-Sanctioned Producers

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