The Venezuelan parliament approved a major oil agreement signed between the government of Delcy Rodriguez and the Donald Trump administration of the United States on the 1st, local time.

According to foreign media outlets including Reuters, the parliament, controlled by the ruling party, passed the bilateral oil agreement in a vote held that day, which grants the United States access to one-fifth of Venezuela's oil reserves.

Under this agreement, North American Blue Energy Partners (NABEP), Venezuela's second-largest private oil company, will receive a 100-year lease for 17 oil fields.

The reserves in these oil fields are estimated at 65 billion barrels, significantly exceeding the total proven reserves of the United States (46 billion barrels).

The U.S. government (Office of Strategic Capital of the Department of Defense) has acquired a 35% stake in NABEP while securing the right to be supplied with 20% of the extracted oil at production cost for bulk delivery to domestic refineries.

EFE reported that this marks the first time the Office of Strategic Capital, launched in 2022, has directly held equity in a foreign private company.

In particular, the acquisition targets include oil fields where Chinese and Russian companies previously held influence, raising expectations of backlash from China and Russia.

Meanwhile, U.S. Energy Secretary Chris Wright is visiting the Venezuelan capital of Caracas on the 2nd to finalize this oil agreement and sign the pact with the private entity.

Officials from major U.S. oil company Chevron are reportedly accompanying him on this visit and are expected to announce local business expansion plans.

(Photo: AP, Yonhap News)