Trump signs Venezuela oil deal giving Pentagon a stake in output

WASHINGTON, United States — WASHINGTON — U.S. President Donald Trump has signed a new oil agreement with Venezuela that grants the Defense Department a significant role in the country's petroleum sector, according to people familiar with the matter cited by The Wall Street Journal. Trump and Venezuelan interim President Delcy Rodríguez outlined the framework of the deal during a phone call several days earlier. Under the agreement, the United States plans to acquire a 35% stake in an oil company called North American Blue Energy Partners, along with the right of first refusal to purchase 20% of the company's production at cost. The Pentagon's investment would be financed through low-cost, tradable bonds tied to its equity in the company. A senior delegation from the Defense Department and the State Department traveled to Venezuela in July to finalize the terms of the deal. The U.S.-backed company could become the world's second-largest holder of proven oil reserves after Saudi Arabia's Aramco, the report said. No further details on the agreement's timeline or implementation were immediately available.