Four senior Senate Democrats told a senior Trump aide they doubt the legal and
prudential basis of a Pentagon plan for the department to passively hold a 35%
stake in North American Blue Energy Partners (NABEP), and warned the deal could
Undermining efforts to promote a democratic transition in Venezuela. NABEP would
gain control of 17 oil blocks tied to Venezuela’s second-largest producer,
reportedly holding about 65 billion barrels of oil. Under the proposal the State
Department would have a priority right to buy 20% of production at cost. The
senators asked the administration to publish the agreement and terms before
finalizing the deal, explaining the legal authority for using the Pentagon’s
Strategic Capital Office to acquire foreign oil equity, and detail how the State
Department would finance purchases of the output.
