The White House says entities it described as Venezuelan interim authorities have granted U.S.-backed North American Blue Energy Partners (NABEP) 100-year concessions for 17 oil fields, according to CNBC.
Key facts
- The concessions were granted by what the White House described as Venezuelan interim authorities, according to CNBC.
- The recipient is North American Blue Energy Partners (NABEP), described by the White House as a U.S.-backed oil firm.
- The concessions are for a 100-year term.
- They cover 17 oil fields.
- No further details of the arrangement were provided in the information reported.
Entities described by the White House as Venezuelan interim authorities have granted North American Blue Energy Partners (NABEP) 100-year concessions for 17 oil fields, according to a CNBC report published on 1 September 2026 that cited the White House.
The White House characterised NABEP as a U.S.-backed firm. The concessions are said to run for 100 years and to cover 17 oil fields.
Beyond the term, the number of fields and the identity of the parties, further details of the arrangement were not provided in the information reported. It is not clear from the source how the concessions relate to the government in Caracas, what financial terms apply, or when any operations would begin.
Why it matters
Long-term oil concessions can shape energy investment for decades. The involvement of a U.S.-backed firm and authorities the White House describes as Venezuelan interim authorities places the reported deal at the intersection of energy and international politics, though key details remain unconfirmed.
Frequently asked questions
Who received the oil field concessions?
North American Blue Energy Partners (NABEP), a firm the White House described as U.S.-backed, received the concessions.
How long do the concessions last and how many fields are covered?
According to the White House, the concessions run for 100 years and cover 17 oil fields.
Who granted the concessions?
Venezuelan interim authorities granted the concessions, according to the White House, as reported by CNBC.