The Daily Journal.- North American Blue Energy Partners (NABEP) announced Tuesday in a statement that two oil tankers carrying a combined one million barrels of Venezuelan crude oil arrived in Corpus Christi, Texas, as part of an energy agreement between the company and the U.S. government.
The company said it delivered the first shipment at no cost to American taxpayers in recognition of its agreement with its new anchor buyer. U.S. President Donald Trump and Secretary of State Marco Rubio visited the Texas port to inspect one of the vessels. The visit formed part of their campaign activities ahead of the upcoming midterm elections.
The agreement, which the parties signed in August, establishes a broader framework for cooperation with the U.S. Departments of State and War. Its terms grant the U.S. government the right to purchase 20% of NABEP’s production at cost, without a profit margin, along with a 35% equity stake in the parent company.
Production exceeds 223,000 barrels per day
NABEP reported that its total hydrocarbon production reached 223,509 barrels of oil equivalent per day as of October 19, including oil and other hydrocarbons converted into a common energy unit.
The company said it increased production from about 18,000 barrels per day to more than 200,000 barrels per day over the past two years, investing nearly $1 billion of its own capital.
According to NABEP, its expansion strategy involves reinvesting hundreds of millions more each month to sustain operational growth.
“This shipment reached Texas in just over a week. Crude oil from the Middle East can take more than a month,” said Alejandro Betancourt, NABEP’s chief executive officer.
Betancourt added that further deliveries would follow the initial shipment and emphasized that each cargo would generate economic activity in Venezuela. “Every tanker that sails north translates into jobs and investment back in Venezuela,” he stated.
The company expects to exceed one million barrels per day in oil production soon.
In its statement, NABEP also noted that it holds marketing rights to more than 65 billion barrels of proven oil reserves in Venezuela following an agreement with Delcy Rodríguez’s interim government. Neither party has disclosed the terms of that agreement.
NABEP also reported that it directly employs more than 5,000 people and supports another 10,000 jobs through contractors in Venezuela.
