What is NABEP's production target for Venezuela by the end of 2028, and how does it compare to its current output?

NABEP plans to increase its oil production in Venezuela to 500,000 barrels per day by the end of 2028, up from its current level of approximately 200,000 barrels per day — a 150% increase. The company stated this growth trajectory was already underway before its U.S. government agreement, funded entirely by internal cash flow, and that external investment enabled by the Trump administration deal will only accelerate it.

What is the significance of the U.S. government's 35% stake in NABEP's Venezuela project, according to the news?

The U.S. government’s unprecedented 35% stake in NABEP’s Venezuela project is described as a high-risk bet by the Trump administration to bypass the slow progress of major international oil firms like ExxonMobil and ConocoPhillips; supporters argue the U.S. involvement enhances investor confidence in long-term investment security, while the agreement grants NABEP 100-year concessions over 17 fields with an estimated 65 billion barrels of proven reserves.

Trump-Backed Oil Firm Targets 150% Production Increase in Venezuela by 2028

Sep 10, 2026

North American Blue Energy Partners aims to raise Venezuelan crude output to 500,000 barrels daily by 2028 following a Trump-administration-backed deal. The agreement secures 100-year concessions for 17 fields to accelerate production amid rising fuel price concerns.

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Trump-Backed Oil Firm Targets 150% Production Increase in Venezuela by 2028

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