North America Blue Energy Partners (NABEP), a Trump administration-backed Venezuelan oil driller, plans to more than double crude production in just over two years, targeting a rise from about 200,000 bpd to 500,000 bpd by end-2028. NABEP says recent supply growth has been funded by internal cash flow and that external investment would accelerate expansion. The company gained prominence after the US government signed what it called the world’s largest oil deal, granting NABEP 100-year concession

North America Blue Energy Partners (NABEP), a Trump administration-backed Venezuelan oil driller, plans to more than double crude production in just over two years, targeting a rise from about 200,000 bpd to 500,000 bpd by end-2028. NABEP says recent supply growth has been funded by internal cash flow and that external investment would accelerate expansion. The company gained prominence after the US government signed what it called the world’s largest oil deal, granting NABEP 100-year concession rights to 17 fields with an estimated 65 bln barrels of proved reserves; NABEP says the US agreement only speeds its planned growth trajectory.